ETHZilla Expands into Aerospace with Jet Engine Acquisition

ETHZilla, a firm specializing in Ethereum treasury management, has acquired two CFM56-7B24 jet engines for $12.2 million through its newly established aerospace subsidiary. According to NS3.AI, these engines are leased to a major airline as part of ETHZilla's strategy to diversify its investments. The company raised the necessary funds by selling more than $114.5 million worth of Ethereum. Despite this move, ETHZilla's shares have experienced a significant decline, dropping approximately 97%.