Particle.news
Download on the App Store
3 ARTICLES
·
3d ago

SharpLink Gaming’s ETH Reserve Tops $1.3B as It Scales Stock Sale to $6B

The expanded $6 billion financing program follows a record 10,000 ETH deal with the Ethereum Foundation after the firm added nearly 80,000 tokens last week.

Image
Image

Overview

  • SharpLink bought 79,949 ETH last week for $48 million at an average price of $3,238 per coin.
  • The company now holds over 360,000 ETH after combining weekly purchases with a landmark 10,000 ETH acquisition from the Ethereum Foundation.
  • A $6 billion at-the-market stock sale program will finance further Ether accumulation as the firm builds its digital-asset treasury.
  • Joseph Lubin, co-founder of Ethereum, was appointed SharpLink’s chairman to guide its transition into a pure-play crypto treasury business.
  • The firm’s long-term goal is to stake and hold 1 million ETH, representing close to 1% of the cryptocurrency’s circulating supply, to earn network yield.