ETHZilla Corporation has announced a $250 million stock buyback program following a dramatic drop in its stock price, which has fallen over 53% in the last week to $3.18. This decline follows an earlier surge after billionaire investor Peter Thiel joined the company. The recent stock sell-off was exacerbated by concerns of share dilution after ETHZ filed with the SEC to offer convertible shares. Currently, ETHZ holds 102,237 ETH, valued at approximately $474 million. As part of its strategy, ETHZilla is also staking its Ethereum tokens to generate yield. Despite the stock buyback announcement, the stock saw an immediate decline of nearly 3.8%. ETHZilla's program will aim to continue until June 2026 or until the allotted amount has been utilized. Meanwhile, Ethereum itself recently reached an all-time high of $4,946, with market analysts predicting continued growth in the coming months.

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