Peter Thiel Increases Investment in ETH Reserve Company by Acquiring 7.5% Stake in ETHZilla, Resulting in Over 50% After-Hours Stock Price Surge

According to the latest documents submitted to the U.S. Securities and Exchange Commission (SEC), a group of investors involving tech billionaire and co-founder of PayPal and Palantir, Peter Thiel, holds a 7.5% stake in 180 Life Sciences. The company is rebranding as ETHZilla and will transform into an enterprise focused on Ether as a treasury.

Market data shows that 180 Life Sciences (stock code ATNF) closed up over 11% on Monday, with after-hours trading surging more than 50%.

180 Life Sciences first announced its Ether treasury plan at the end of July. On Monday, the biotech company stated it has sold $156 million in convertible notes maturing in 2028 to an institutional investor, following its recent completion of a $425 million private placement. The company indicated that the funds will primarily be used for purchasing Ether, income-generating assets, and developing its iGaming (online gaming) business, while also monetizing its existing biotech intellectual property.

Notably, Peter Thiel’s investor group now holds stakes in two Ether treasury companies. According to previous reports from Zombit, Peter Thiel, co-founder of PayPal and a well-known Silicon Valley investor, indirectly holds a total of 5,094,000 shares of Bitmine Immersion Technologies through various entities, accounting for approximately 9.1% of the outstanding shares. BitMine Immersion is currently the largest publicly traded company holding Ether globally, with its ETH reserves valued at nearly $5 billion.