SharpLink Gaming's shares surged over 28% on Tuesday after the company announced it had purchased 7,689 Ether for more than $19 million, increasing its total Ether holdings to 205,634, valued at over $533 million. Following this news, SharpLink's stock (SBET) closed at $16.29, with an additional 4.36% rise in after-hours trading. Earlier, on June 25, the stock had already increased by 7% after a $30 million Ether purchase. During the Ether acquisition period, SharpLink raised $64 million by selling over 5.4 million shares, with plans to use a significant portion for further Ether purchases. The company aims to sell up to $1 billion in common shares to support its Ethereum-focused treasury strategy. SharpLink has committed its Ether holdings to staking, earning rewards of 322 Ether since June 2. Joseph Lubin, the chairman and Ethereum co-founder, emphasized the company's dedication to refining its treasury strategy and maintaining operational transparency. Read more AI-generated news on: https://app.chaingpt.org/news

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