SCHEDULE: Peter Thiel's Entities Disclose ETHZilla Stake Post-Split

Peter Thiel and affiliated entities have disclosed their beneficial ownership in ETHZilla Corporation, totaling 5.6% of common stock after a 1-for-10 reverse stock split.

Summary

• Peter Thiel and affiliated entities, including FF Consumer Growth II, LP and FF Consumer Growth, LLC, reported beneficial ownership in ETHZilla Corporation.
• As of September 30, 2025, Peter Thiel beneficially owned an aggregate of 928,389 shares of ETHZilla Corporation's common stock, representing 5.6% of the class.
• FF Consumer Growth II, LP, along with its general partners, beneficially owned 715,658 shares, or 4.4% of the common stock.
• FF Consumer Growth, LLC, along with its manager, beneficially owned 212,731 shares, or 1.3% of the common stock.
• All reported share numbers and percentages are adjusted to reflect a 1-for-10 reverse stock split effected by ETHZilla Corporation on October 20, 2025.
• The percentage of class is based on 16,444,734 shares of common stock outstanding as of August 20, 2025, which was also adjusted for the reverse stock split.
• The reporting persons expressly disclaim status as a 'group' for the purposes of this Schedule 13G/A filing.

Sentiment

Score: 5

Explanation: This is a factual disclosure of beneficial ownership and a corporate action (reverse stock split). The reverse stock split could be perceived negatively, but the filing itself is neutral in tone and purpose.

Positives

• The disclosure of significant beneficial ownership by Peter Thiel and affiliated funds (5.6% aggregate) provides transparency regarding a notable institutional investor's stake in ETHZilla Corporation.

Negatives

• ETHZilla Corporation effected a 1-for-10 reverse stock split on October 20, 2025, which can sometimes be perceived negatively by the market as it often occurs when a company's stock price is low or to meet listing requirements.

Risks

• The reverse stock split, while a corporate action, could be indicative of underlying challenges for ETHZilla Corporation, potentially impacting investor confidence or liquidity.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Peter Thiel is the manager of FF Upper Tier GP, LLC and The Founders Fund Growth Management, LLC, which are general partners/managers of the funds (FF Consumer Growth II, LP and FF Consumer Growth, LLC) holding ETHZilla shares. This establishes a control relationship among the reporting persons regarding the shares.

Stakeholder Impact

• Shareholders: The disclosure provides transparency on significant institutional ownership and the impact of the reverse stock split on share count and potentially price.
• Investors: Provides insight into the ownership structure and a recent corporate action (reverse stock split) by ETHZilla Corporation.

Key Dates

Keywords

ETHZilla Corporation, Peter Thiel, Founders Fund, Schedule 13G, beneficial ownership, common stock, reverse stock split, institutional ownership, SEC filing