🎮 GameSquare Bets Big — $100M Ethereum Treasury Launch Signals Major Web3 Push!

with Nasdaq-listed esports and media business GameSquare announced on Tuesday that it would open a $100 million Ethereum treasury with board approval, ETH's rise has continued for a second day.

The business wants $8 million from a $8.42 million public offering of $0.95 shares. It also provided Lucid Capital, its underwriter, a 45-day option to buy 1.26 million shares at the offering price.

The issuance is the first in a series of "staged" investments the firm expects to make to fund an Ethereum treasury strategy.

"This new treasury management strategy enhances our financial flexibility and allows us to support a defined capital allocation plan that is focused on pursuing additional ETH asset purchases, funding potential share repurchases, and reinvesting in our growth initiatives," Justin Kenna, CEO of GameSquare.

GameSquare will use Dialectic's Medici yield optimization technology to produce profits on its ETH treasury. The corporation may use stablecoins and non-fungible tokens for various Ethereum yield-generation schemes.

GAME stock is up 40% on Wednesday, extending its rise from Tuesday's ETH treasury reveal to over 100%.

A rising number of low-capped publicly listed firms are creating crypto treasuries using Bitcoin, with others using altcoins like ETH and Solana.

Bit Digital shares rose on Monday after the business revealed it had added 100,603 ETH to its treasury from 280 BTC and $172 million. SharpLink Gaming's shares rose on Tuesday as it announced further ETH acquisitions, bringing its total to 205,000. Both corporations said they're staking their full shares, lessening ETH supply pressure.

Consensys CEO and SharpLink chairman Joe Lubin told CNBC on Tuesday that Ethereum treasuries are "not only a great business to run but [will] be critical to enable the supply-demand of ETH to rightsize" as more apps launch on its blockchain.

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