Sharplink Gaming raises 200 million USD to acquire more Ethereum

Sharplink Gaming, a company focused on Ethereum treasury, has announced plans to raise approximately 200 million USD through a stock sale. The funds will be used to continue purchasing and accumulating Ethereum, strengthening the company's position in the market.

Expanding the Ethereum treasury

The company is selling common stock at a price of 19.50 USD per share to four institutional investors. According to Joseph Chalom, co-CEO of #SharpLink , this move aims to become the world's leading ETH treasury company and get closer to the goal of holding 1% of the total circulating supply of Ethereum.

As of August 3, Sharplink owned 521,939 $ETH worth 1.9 billion USD. The company has been implementing its Ethereum accumulation strategy since June and is in a race with competitors like BitMine Immersion, currently the largest company with an ETH treasury valued at 2.9 billion USD.

Positive impact on the market

The decision to raise capital to purchase more ETH by Sharplink Gaming is a positive signal indicating strong institutional investor confidence in Ethereum's potential. Along with the emergence of other ETH treasury companies, this trend is driving Ethereum's price increases, bringing the cryptocurrency closer to its all-time high. This suggests that Ethereum is increasingly being viewed as a reliable strategic asset within the investment portfolios of large enterprises. #anhbacong