Ethereum treasury company ETHZilla spends $12.2 million to buy two jet engines.

In a filing with the SEC, ETHZilla disclosed that it purchased two CFM56-7B24 aircraft engines for $12.2 million through its newly formed subsidiary, ETHZilla Aerospace LLC. These engines are currently leased to a major airline. ETHZilla had previously sold at least $114.5 million worth of ETH in the past few months. In October and December of last year, the company sold $40 million and $74.5 million worth of ETH, respectively, for stock buybacks and debt redemptions. ETHZilla has stated its intention to move into the asset tokenization space, planning to partner with regulated broker-dealers to bring cash flow assets such as auto loans and home loans onto the blockchain, and expects to launch its first tokenized assets in the first quarter of this year.