ETHZilla has sold approximately $40 million worth of ETH for stock buybacks

According to a report by Jinse Finance, a certain exchange company (Nasdaq: ETHZ) announced that it has sold approximately $40 million worth of Ethereum (ETH) for stock buybacks. Since the sale was executed on October 24, the company has repurchased about 600,000 shares of common stock for approximately $12 million and plans to continue using the remaining funds for further stock buybacks. The company still holds about $400 million in ETH for future strategic planning.