Overview
- SharpLink deployed last week’s $76.5 million stock offering to purchase 19,271 ETH at an average price of $3,892, according to its Oct. 21 update.
- The company reported approximately $3.5 billion in combined ETH and cash reserves, including $36.4 million in cash and equivalents.
- This is SharpLink’s first disclosed ether purchase since late August and brings total holdings to 859,853 tokens.
- Since launching its treasury program in June, staking has generated 5,671 ETH and the company’s ETH Concentration metric has doubled to 4.0.
- SBET shares traded around $14.70 after the news, down about 66% from July highs, after buybacks last month when the stock fell below reported net asset value.