SharpLink Gaming Increases Ethereum Holdings to 188,478 ETH Following $30 Million Purchase
SharpLink Gaming (SBET) increased its treasury holdings of ether to 188,478 ETH. The company acquired 12,207 ETH for $30.7 million between June 16 and June 20 at an average price of $2,513 per coin.
- Funding for the purchase came from raising $27.7 million through an at-the-market offering, selling over 2.5 million shares.
- SharpLink aims to follow the trend of public companies adding cryptocurrencies to their balance sheets.
- The company recently completed a $450 million fundraising round from investors including ConsenSys, Galaxy, and Pantera Capital.
- Ethereum co-founder Joseph Lubin joined as board chairman.
- SharpLink claims to be the largest publicly traded holder of ether, with approximately $470 million in ETH at current prices.
- All crypto assets have been staked, earning 120 ETH in rewards.
- There was a nearly 19% increase in ETH per share since launching its ETH treasury strategy.
Lubin stated that this move reflects confidence in Ethereum's utility and commitment to transformative technologies for business value.