Peter Thiel acquires 7.5% stake in ETHZilla to boost Ethereum investment

According to SEC filings, PayPal co-founder Peter Thiel and his investment team hold a 7.5% stake in 180 Life Sciences (now renamed ETHZilla), a company focused on building Ethereum-based enterprise treasuries. ETHZilla plans to use the proceeds for Ethereum purchases, yield farming assets, and its iGaming business. ETHZilla's stock rose 11% after the market closed on Monday, having surged approximately 57% overnight. Prior to this, on July 16, Thiel's team also held over 9% of BitMine Immersion, the largest Ethereum-based enterprise treasury holder with reserves valued at nearly $5 billion. Furthermore, on July 29, the publicly listed company 180 Life announced plans to raise approximately $425 million in a private placement and transform itself into an Ethereum treasury reserve company.