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3w ago

SharpLink Nears 500,000 ETH Reserve With Fresh $66M Purchase

Using proceeds from at-the-market equity programs, the firm is deploying USDC through OTC desks to capitalize on Ethereum’s price pullback.

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Overview

  • On August 4, SharpLink acquired 18,680 ETH for $66.6 million, raising its holdings to 498,711 ETH worth about $1.81 billion.
  • Last week, the company raised $279.2 million through an at-the-market equity offering to underpin its aggressive Ethereum buying strategy.
  • On-chain trackers reported over $108 million in USDC flowed from a SharpLink-linked wallet to Galaxy Digital’s OTC desk for about 31,900 ETH.
  • Joseph Lubin, Ethereum’s co-founder, chairs SharpLink’s board and leads its treasury strategy with a goal of outpacing all peers in accumulation speed.
  • With 498,711 ETH, SharpLink remains the second-largest corporate holder behind Bitmine Immersion Technologies and adds to a $9.7 billion collective reserve across 63 public entities.