SharpLink Gaming Acquires 143,593 ETH, Total Holdings Exceed $3 Billion
SharpLink Gaming (SBET) reported a purchase of 143,593 ETH, increasing total holdings to 740,760 ETH valued at $3.18 billion.
- The firm raised $537 million in net proceeds during the week ending Aug. 15.
- Funding sources included $390 million from a registered direct offering and $146.5 million from an at-the-market issuance program.
- Average purchase price for recent acquisitions was $4,648, approximately 8% above current market price below $4,300.
- SharpLink's strategy focuses on accumulating ETH and staking for rewards.
- It has over $84 million cash available for future ETH purchases.
- Competitor BitMine Immersion Technologies holds more than 1.5 million ETH, nearly double SharpLink's holdings.