180 Life Sciences Surges 54% in After-Hours Trading After Raising $156 Million to Boost Ethereum Holdings

180 Life Sciences Corp. ATNF shares surged 54% in after-hours trading after the biotech firm completed a $156 million private offering to boost its Ethereum reserves. The proceeds will be used to buy more ETH, expanding on its recently announced treasury strategy. Concerns have been raised about the potential collapse of Ethereum due to overleveraging practices.

180 Life Sciences Corp. (ATNF) shares surged 54% in after-hours trading on July 2, 2025, following the announcement of a $156 million private offering. The funds will be used to expand the company's Ethereum (ETH) holdings, further cementing its treasury strategy. The move comes as the biotech firm aims to capitalize on the growing demand for on-chain treasury management solutions.

The private offering, completed on July 2, 2025, will provide 180 Life Sciences with an additional $156 million to bolster its ETH reserves. As of August 11, 2025, the company held a total of 82,186 ETH, valued at approximately $349 million [1]. This recent acquisition will further increase the company's ETH holdings, positioning it as a significant player in the Ethereum ecosystem.

The surge in ATNF shares can be attributed to the company's strategic move to expand its ETH reserves. The private offering will allow 180 Life Sciences to execute on its treasury strategy, which aims to generate yield through its external asset manager, Electric Capital. The company's plans to rebrand as ETHZilla Corporation and become a benchmark for on-chain treasury management among public companies have also contributed to investor optimism.

However, concerns have been raised about the potential collapse of Ethereum due to overleveraging practices. Despite these concerns, 180 Life Sciences remains committed to its treasury strategy, believing that the reserve of ETH will unlock cash flow for shareholders and deliver on its on-chain yield generation program.

The private offering is part of a broader strategy for 180 Life Sciences to evolve its business towards software-enabled gaming and entertainment. The company continues to maintain and accelerate the deployment and development of its gaming initiatives while also monetizing its existing biotech assets.

References:
[1] https://finance.yahoo.com/news/180-life-sciences-ethzilla-holds-120000891.html