Overview
- SharpLink purchased 19,271 ETH at an average price of $3,892, funded by a $76.5 million registered direct offering completed last week.
- Total holdings rose to 859,853 ETH, with cash and equivalents bringing combined reserves to roughly $3.5 billion as of October 19.
- Management said the equity sale priced at a premium to NAV and claimed the subsequent ETH buys at lower prices were immediately accretive.
- Staking operations have produced 5,671 ETH in rewards since June as the firm reports an ETH Concentration metric of 4.0, double its June level.
- SBET shares were little changed after the disclosure and remain about 66% below July highs, reflecting cautious market sentiment.