PANews reported on August 12th that 180 Life Sciences ( ETHZilla ) announced it currently holds 82,186 Ethereum ( ETH ) at an average purchase price of $ 3,806.71 , with a total market value of approximately $ 349 million. The company also holds approximately $ 238 million in cash equivalents. ETHZilla plans to hold the newly acquired ETH for the long term and, in partnership with Electric Capital , utilize a proprietary Ethereum network strategy to generate returns through staking. The company is accelerating its transformation into an institutional-grade Ethereum reserve management platform and continues to advance its gaming and biotech businesses.