ETHZilla purchases two aircraft engines for leasing business

ETHZilla purchased two CFM56-7B24 aircraft engines through its subsidiary ETHZilla Aerospace LLC for $12.2 million and has leased them to a large airline. The daily management is handled by Aero Engine Solutions. The transaction includes a buy and sell option agreement, and if the engine is in good condition at the end of the lease term, both parties can buy and sell at a price of $3 million per unit. ETHZilla had previously sold over $100 million in ETH holdings to cope with market pressure, and its stock price has fallen about 97% since its peak in August last year. In addition, ETHZilla plans to launch the first batch of tokenized asset products in the first quarter of this year.