SharpLink Gaming (SBET), based in the ABD, aims to lead among institutional Ethereum holders by increasing its total ETH holdings to 188,478 with its second Ethereum (ETH) purchase.
Accelerating its cryptocurrency investments, Minnesota-based SharpLink Gaming purchased a total of 12,207 ETH for approximately $30.7 million during its second ETH acquisition conducted between June 16-20. After purchases at an average price of $2,513, the company's total ETH amount reached 188,478 ETH. With this move, SharpLink solidified its position as the second largest institutional ETH holder after the Ethereum Foundation.
Previously, on June 13, SharpLink had purchased 176,270 ETH with an investment of $463 million. Following the latest acquisition, the company directed all ETH assets to staking solutions, thereby earning an additional income of approximately $293,811 by gaining another 120 ETH since June 2.
Blockchain move with Ethereum
Joseph Lubin, Chairman of the Board of SharpLink and co-founder of Consensys, emphasized that Ethereum investments strengthen the company's long-term value creation vision. Lubin stated, "In this era where digital assets like Ethereum are shaping the world of finance and technology, we position SharpLink at the intersection of blockchain innovations and the next generation of the gaming industry."
Consensys managed a $425 million private investment round for SharpLink’s ETH investments and DeFi initiatives on June 2, and following this investment, Lubin was appointed as the chairman of SharpLink's board.
At the time of preparing this news, the price of Ethereum is trading at $2,448, showing an increase of 6.57% in the last 24 hours. SharpLink Gaming's stock price has risen by 9.6% during the day, reaching $9.94.