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ETHZilla aims to raise an additional $350 million through convertible bonds. The proceeds will be allocated to further purchases of Ether and investments in yield-generating ecosystems.

McAndrew Rudisill, the chairman and CEO of ETHZilla, announced on Monday that the company plans to tokenize real-world assets and utilize layer-2 protocols to deploy Ether into “cash-flowing assets” on the Ethereum network. He stated, “With a large amount of fixed operating leverage and consistent positive cash flow, we believe our business model is highly scalable.”

The company’s disclosed financials reveal that the Ether treasury has already earned $11.5 million in unnamed tokens through its active participation in the ecosystem. An increasing number of digital asset companies are now focusing on generating yields through active engagement rather than simply holding cryptocurrency.

According to the company’s financial statements, ETHZilla has earned $1.5 million in unnamed tokens through its ecosystem activities. The company added, “ETHZilla continues to actively deploy capital across the Ethereum ecosystem, strategically supporting a diverse range of protocols that drive innovation, long-term network growth, and differentiated yield.”

With the previous $156.5 million raised through convertible bonds, ETHZilla now has more than $506 million in its war chest. If the full $350 million from the new issue is used for additional Ether purchases, more than $428 million could be added to ETHZilla’s collection of 102,000 tokens.