Sharplink Gaming has secured 176,271 ETH for $463 million, becoming the largest publicly traded holder of ether globally, and is actively participating in staking the majority of its position to earn network rewards.
The Acquisition of over 176,000 ETH Makes Sharplink Double Down on Ethereum
Sharplink Gaming, Inc. (Nasdaq: SBET) has made headlines by acquiring 176,271 ETH for $462.9 million, positioning itself as the largest publicly traded holder of ether in the world. This milestone surpasses other public firms, leaving only the Ethereum Foundation ahead in total holdings.
The acquisition, with an average of $2,626 per ETH, was financed through the previously disclosed private investment in public equity (PIPE) by the company and additional proceeds from its at-the-market (ATM) stock offering of $1 billion.
“This is a historic moment for Sharplink and for the adoption of digital assets by public companies. Our decision to make ETH our primary treasury reserve asset reflects a deep conviction in its role as programmable digital capital that generates yield,” said Rob Phythian, CEO of Sharplink Gaming.
Between May 30 and June 12, Sharplink raised $79 million in gross revenue through its ATM facility, with most allocated to expanding its ETH treasury position.
Joseph Lubin, Chairman of Sharplink Gaming and Co-founder of Ethereum, spoke about Sharplink's significant capital allocation in $ETH
