Konstantin Lomashuk via Cyber Citadel Reports 9.99% of ETHZilla

Rhea-AI Filing Summary

Cyber Citadel and Konstantin Lomashuk report beneficial ownership of 14,998,198 shares of ETHZilla Corporation common stock, representing 9.99% of the class. The reported holdings include warrants exercisable for 124,302 shares within 60 days, and the filing states those warrants will not be exercised if doing so would cause ownership to exceed 9.99%.

The stake is held through a Cayman Islands entity (Cyber Citadel) with Lomashuk identified as sole owner of a controlling interest and having sole voting and dispositive power over the reported shares. The percentage is calculated against 150,007,819 shares outstanding.

Positive

• Transparent disclosure of beneficial ownership and inclusion of warrant details provides clarity for investors
• Warrant exercise cap prevents the reporting person from exceeding 9.99%, reducing immediate dilution uncertainty

Negative

• High ownership concentration—14,998,198 shares (9.99%) held with sole voting and dispositive power
• Indirect control via offshore entity (Cyber Citadel organized in the Cayman Islands) concentrates influence in a single beneficial owner

Insights

Financial Analyst

TL;DR: A near-10% position is disclosed; holdings and warrants limit dilution risk but signal a meaningful minority stake.

The filing documents a 9.99% holding including 124,302 warrant shares, showing concentrated ownership without control. For investors this size is large enough to warrant attention because it may influence voting outcomes on close matters but remains below the 10% threshold that can trigger different regulatory obligations. The stated mechanical cap on warrant exercise reduces immediate dilution risk and clarifies potential share count impact.

Corporate Governance Expert

TL;DR: Disclosure shows clear voting and dispositive control by a single beneficial owner through a Cayman entity.

The report makes governance lines explicit: sole voting and dispositive power reside with Cyber Citadel and, indirectly, Konstantin Lomashuk. That concentration raises routine governance considerations about minority shareholder influence and oversight but does not, per the filing, represent a change-in-control intent. The certification affirms the holdings are not for the purpose of changing control.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

ETHZilla Corporation

(Name of Issuer)

Common Stock, $0.0001 par value per share

(Title of Class of Securities)

68236V302J

(CUSIP Number)

07/25/2024

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 68236V302J

1

Names of Reporting Persons

Cyber Citadel

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 14,998,198.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 14,998,198.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

14,998,198.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: Number shown in Boxes 5, 7 and 9 includes warrants held by the reporting person that are exercisable for 124,302 shares of Common Stock within 60 days of the reporting event. At no time shall warrants held by Cyber Citadel be exercisable when such exercise would result in Cyber Citadel obtaining in excess of 9.99% of the Issuer's Common Stock issued and outstanding following such exercise as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended, and Rule 13d-3 promulgated thereunder. The percentage shown in Box 11 is based on 150,007,819 shares of Common Stock outstanding as of August 25, 2025 and 124,302 warrant shares exercisable for Common Stock held by the reporting person.

SCHEDULE 13G

CUSIP No. 68236V302J

1

Names of Reporting Persons

Konstantin Lomashuk

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

RUSSIAN FEDERATION

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 14,998,198.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 14,998,198.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

14,998,198.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: Number shown in Boxes 5, 7 and 9 includes warrants held by the reporting person that are exercisable for 124,302 shares of Common Stock within 60 days of the reporting event. At no time shall warrants held by Cyber Citadel be exercisable when such exercise would result in Cyber Citadel obtaining in excess of 9.99% of the Issuer's Common Stock issued and outstanding following such exercise as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended, and Rule 13d-3 promulgated thereunder. The percentage shown in Box 11 is based on 150,007,819 shares of Common Stock outstanding as of August 25, 2025 and 124,302 warrant shares exercisable for Common Stock held by the reporting person.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ETHZilla Corporation
(b)	Address of issuer's principal executive offices: 2875 South Ocean Blvd., Suite 200, Palm Beach, FL 33480C
Item 2.
(a)	Name of person filing: Cyber Citadel Konstantin Lomashuk
(b)	Address or principal business office or, if none, residence: The address for the principal business office of Cyber Citadel is: 71 Fort Street, 3rd Floor George Town, Grand Cayman KY1-1111 The address for the principal business office of Konstantin Lomashuk is: c/o Cyber Citadel 71 Fort Street, 3rd Floor George Town, Grand Cayman KY1-1111
(c)	Citizenship: Cyber Citadel is a Cayman Islands corporation; Konstantin Lomashuk is a citizen of Russia.
(d)	Title of class of securities: Common Stock, $0.0001 par value per share
(e)	CUSIP No.: 68236V302J
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 14,998,198 shares of Common Stock. Konstantin Lomashuk may be deemed to possess voting and dispositive power in his capacity as sole owner of a controlling interest in Cyber Citadel and its affiliates.
(b)	Percent of class: 9.99 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 14,998,198
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 14,998,198
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Cyber Citadel

Signature:	/s/ Petrus Dorfling Basson
Name/Title:	Petrus Dorfling Basson, Director
Date:	10/01/2025

Konstantin Lomashuk

Signature:	/s/ Konstantin Lomashuk
Name/Title:	Konstantin Lomashuk
Date:	10/01/2025

FAQ

How many ETHZilla (ETHZ) shares does Cyber Citadel report owning?

The filing reports 14,998,198 shares of common stock beneficially owned.

What percentage of ETHZ common stock does the reported stake represent?

The reported stake represents 9.99% of the class based on 150,007,819 shares outstanding.

Do the reported holdings include warrants?

Yes; the report includes warrants exercisable for 124,302 shares within 60 days, subject to a cap preventing exercise above 9.99% ownership.

Who has voting and dispositive power over the reported shares?

The filing states sole voting and sole dispositive power over the 14,998,198 shares is held by Cyber Citadel and attributed to Konstantin Lomashuk.

What is the citizenship or place of organization for the reporting parties?

Cyber Citadel is organized in the Cayman Islands and Konstantin Lomashuk is a citizen of the Russian Federation.