ETHZilla sold 24,291 ETH worth $74.5 million to repay convertible bond debt, less than six months after adopting an Ethereum-focused asset strategy. The move reduces its ETH reserves and signals a strategic pivot back to real-world asset tokenization. This follows a $40 million ETH sale in Q4 2024 for share buybacks, and comes as the company’s stock has plunged about 96% since August, reflecting broader pressures on public crypto treasury firms.