ETHZilla, a leading Ether treasury company, is seeking to raise an additional $350 million through new convertible bonds aimed at increasing its Ether holdings and generating yield through strategic investments within the Ethereum ecosystem. CEO McAndrew Rudisill highlighted the company's goal of deploying Ether via layer-2 protocols and tokenizing real-world assets, citing a business model that is scalable with significant recurring cash flow. With prior funding of $156.5 million, this new raise would boost its total war chest to over $506 million. ETHZilla has already earned 1.5 million tokens, indicating active capital deployment within the Ethereum network, which plays a role in supporting innovative protocols. The company's Ether treasury, currently the eighth largest, holds over 102,000 Ether tokens, valued at approximately $428 million. Founded in 2016, formerly known as Life Sciences Corp, the shift towards crypto investment marks a significant transition reflecting the increasing trend of digital asset companies seeking yield rather than merely holding assets.

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