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180 Life Sciences Corp's stock slid 1.45% in after-hours trading, following Ethereum's decline. The biotech company holds 82,186 ETH, valued at over $381 million. The stock has surged 116% in a week and 755% in a month, aligning with ETH's rise. The company plans to rebrand as ETHZilla Corporation and has completed a $156 million private offering to buy more ETH.

180 Life Sciences Corp's stock experienced a 1.45% drop in after-hours trading on July 2, 2025, following a decline in Ethereum's price. The biotechnology company's stock has surged 116% in a week and 755% in a month, aligning with Ethereum's rise. The firm holds 82,186 ETH, valued at over $381 million, and plans to rebrand as ETHZilla Corporation [1].

The company's treasury strategy, involving the accumulation of 82,186 ETH, aims to become a benchmark for on-chain treasury management among public companies. This strategy is facilitated through a partnership with Electric Capital, which will generate cash flow for shareholders through an on-chain yield generation program [1]. The recent surge in the stock can be attributed to this strategy, which is part of the company's broader evolution from a biotechnology company to a software-enabled gaming and entertainment enterprise [1].

Despite the recent gains, the stock's after-hours decline reflects the broader market's reaction to Ethereum's price drop. The company's stock has seen a year-to-date increase of 83.52% and a 91.95% rise over the past 12 months. The recent announcement has led to heavy trading, with approximately 33 million shares changing hands today compared to a three-month average of about 4.78 million units [1].

Earlier this month, ETHZilla closed a $425 million private placement, with over 60 participants including Electric Capital, Polychain Capital, GSR, Konstantin Lomashuk (co-founder of Lido and p2p.org), and Sreeram Kannan (founder of Eigenlayer) [2]. The placement had over 60 participants, including Electric Capital, Polychain Capital, GSR, Konstantin Lomashuk (co-founder of Lido and p2p.org), and Sreeram Kannan (founder of Eigenlayer) [2].

Shares of 180 Life Sciences Corp., amid a rebrand to ETHZilla, soared over 90% following the announcement that Peter Thiel-controlled entities had acquired a 7.5% stake in the company. According to a filing with the U.S. Securities and Exchange Commission, through a handful of entities like The Founders Fund Growth Management, Thiel now owns a 7.5% stake in ETHZilla [2]. The company also disclosed that it holds 82,186 ether, bought at an average acquisition price of $3,806.71, and valued at approximately $349 million. ETHZilla also holds approximately $238 million in USD cash equivalents [2].

References:
[1] https://www.ainvest.com/news/180-life-sciences-stock-plunges-ethereum-decline-2508/
[2] https://www.theblock.co/post/366571/ethzilla-stock-jumps-over-90-after-peter-thiel-takes-stake-and-company-discloses-82186-eth-holdings