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According to documents submitted by ETHZilla, a company in the Ethereum treasury, to the U.S. Securities and Exchange Commission (SEC) this Friday, it acquired two CFM56-7B24 aircraft engines for 12.2 million USD through its newly established subsidiary, ETHZilla Aerospace LLC.
The documents indicate that these two engines are currently leased to a major airline, and ETHZilla has hired Aero Engine Solutions for daily management and pays a monthly fee. The transaction includes a buy-sell option agreement: at the end of the lease term, if the engines remain in good condition, either party can request the other to buy or sell at a price of 3 million USD per engine.
This unconventional operation is driven by the ongoing pressure on digital asset management companies brought about by the turbulent downturn in the cryptocurrency market over the past few months. Many publicly traded companies that actively raised funds and hoarded tokens last year now have stock prices significantly below the net value of their on-book cryptocurrency assets, making it difficult for them to raise new capital. ETHZilla itself sold off 40 million USD worth of ETH last October to implement a stock buyback plan, and then reduced its holdings by 74.5 million USD in ETH in December to pay off outstanding debts. Its stock price has plummeted by about 97% since its peak in August.
However, the acquisition of aircraft engines may also be related to ETHZilla's plans to tokenize real-world assets (RWA) on-chain. The company stated on Wednesday that it is building a scalable tokenization pipeline across asset classes, with predictable cash flows and global investor demand, expecting to launch its first tokenized asset products in the first quarter of this year. #达沃斯世界经济论坛2026 #ETH走势分析 $BTC
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The documents indicate that these two engines are currently leased to a major airline, and ETHZilla has hired Aero Engine Solutions for daily management and pays a monthly fee. The transaction includes a buy-sell option agreement: at the end of the lease term, if the engines remain in good condition, either party can request the other to buy or sell at a price of 3 million USD per engine.
This unconventional operation is driven by the ongoing pressure on digital asset management companies brought about by the turbulent downturn in the cryptocurrency market over the past few months. Many publicly traded companies that actively raised funds and hoarded tokens last year now have stock prices significantly below the net value of their on-book cryptocurrency assets, making it difficult for them to raise new capital. ETHZilla itself sold off 40 million USD worth of ETH last October to implement a stock buyback plan, and then reduced its holdings by 74.5 million USD in ETH in December to pay off outstanding debts. Its stock price has plummeted by about 97% since its peak in August.
However, the acquisition of aircraft engines may also be related to ETHZilla's plans to tokenize real-world assets (RWA) on-chain. The company stated on Wednesday that it is building a scalable tokenization pipeline across asset classes, with predictable cash flows and global investor demand, expecting to launch its first tokenized asset products in the first quarter of this year. #达沃斯世界经济论坛2026 #ETH走势分析 $BTC
{spot}(BTCUSDT)
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