SharpLink Gaming Increases Ether Holdings
SharpLink Gaming, an Ethereum financial company, announced on Tuesday that it increased its holdings by 83,561 Ether (ETH) last week, with an average purchase price of $3,634, bringing its total holdings to 521,939 ETH, valued at approximately $1.87 billion.
SharpLink also stated that it raised $264.5 million last week through an at-the-market (ATM) equity offering. Since launching its Ethereum financial strategy on June 2, the total staking rewards have reached 929 ETH, which is approximately valued at $3.33 million at current prices. The “ETH Concentration” metric, which measures the company’s ETH exposure relative to its capital structure, increased from 3.40 the previous week to 3.66, representing an 83% growth since the strategy’s implementation.
SharpLink Co-CEO Joseph Chalom stated:
According to data from strategicethreserve.xyz, SharpLink’s current Ether holdings rank second among publicly listed companies globally, second only to BitMine, an Ethereum financial company led by renowned analyst Tom Lee, which holds 833,137 ETH.
Data from CoinGecko shows that Ether has dropped approximately 6.1% over the past week, with a trading price of $3,580 as of the time of writing.
Related report: “Ethereum Founder Joe Lubin Hopes SharpLink Becomes the Fastest Accumulating Ethereum Financial Company in the Industry.”
