Johann Wilfred
- SharpLink Gaming has picked up an additional 6,377 ETH for $19.56 million on Wednesday
- This purchase follows a week of heavy ETH accumulation
- SharpLink Gaming became the largest corporate holder of Ethereum on July 13 after snagging up 74,656 ETH
NASDAQ-listed company SharpLink Gaming has picked up an additional 6,377 ETH for $19.56 million on Wednesday, as per an X post by analytics firm Lookonchain.
This purchase follows a week of heavy ETH accumulation, with a total purchase of 91,330 ETH for $275 million, as more companies now consider the crypto—alongside Bitcoin—as a suitable asset for their treasury strategy.
The company’s press reports show SharpLink Gaming became the largest corporate holder of Ethereum on July 13 after snagging up 74,656 ETH at an average price of $2,852. To support its fast-paced acquisition of Ethereum, SharpLink Gaming raised $413 million in net proceeds through an ATM facility (At-The-Market) by issuing 24.5 million shares of common stock.
The company still has to commit an additional $257 million towards Ethereum purchases. 99.7% of all Ethereum owned by SharpLink is locked into staking protocols.
Source: Google Finance
SharpLink Gaming shares were trading at $28.97 at the time of reporting, up by 21.31% on Wednesday before closing. Premarket trading hours showed the price to be $32.75, up an additional 13.05%.
Source: Coinmarketcap.com
Ethereum’s price was up by 6.23%, trading at $3,168.
