Sharplink Gaming has just announced a plan to raise 425 million USD through a private placement to purchase Ethereum (ETH) as reserve assets, led by Consensys. After the issuance ends, Consensys CEO Joseph Lubin will join the Sharplink Board of Directors as Chairman. This is part of a trend of businesses shifting to using digital assets like ETH, BTC, and SOL in their financial strategy.

In addition to Sharplink, many other companies such as BioNexus Gene Lab and BTCS have also adopted similar strategies. This large-scale purchase of ETH is expected to provide additional growth momentum for this currency as the market focuses on the performance of digital assets in corporate treasury.