SharpLink Raises $200 Million to Increase Ether Holdings Over $2 Billion
SharpLink Gaming (SBET), a Nasdaq-listed firm, has raised $200 million to increase its ether (ETH) holdings beyond $2 billion. Key details include:
- The capital was raised through a direct offering at $19.50 per share with four institutional investors.
- The company's current ether holdings are 521,939 ETH, valued at nearly $2 billion based on the price of $3,830.65.
- SharpLink shares rose approximately 3.3% to $22.97 following a 4.5% rally in ETH over 24 hours.
- The firm is part of a trend among companies adopting an ether treasury strategy, accumulating and staking ETH for rewards.