🔥 SharpLink Snaps Up 79,949 ETH—Treasury Swells to 360K+ Ethereum! 🏦🚀
In a strategic treasury move, Nasdaq-listed SharpLink Gaming, led by Ethereum co-founder Joseph Lubin, upped its Ethereum (ETH) holdings by approximately 30%.
Between July 14 and 20, the corporation bought 79,949 ETH at $3,238 per token, raising its total to 360,807 ETH. The purchase follows a trend of companies expanding their treasury strategy using Ethereum.
SharpLink issued 3.8 million ATM shares to generate $96.6 million for the acquisitions. The business says the funds are not entirely allocated, allowing for further ETH buys in the coming weeks.
This makes Ethereum the company's biggest corporate holding and its key treasury reserve asset. Since mid-June, the company's ETH Concentration indicator, which measures crypto exposure per share, climbed 53% to 3.06.
Since establishing its digital treasury plan on June 2, SharpLink has earned 567 ETH in staking incentives, demonstrating its desire to create income while holding long-term.
The business resumed its accumulation strategy with a weekly ETH purchase of roughly 80,000 tokens, its biggest ever. SharpLink said its treasury approach supports its business objectives and shareholder value.
Chairman Joseph Lubin, Consensys' founder and a key Ethereum developer, said the company's treasury strategy is to capitalize on market circumstances to establish a large ETH reserve. Lubin said in the latest corporate update.
SharpLink expanded into ETH and reacted to legislative changes, including US President Donald Trump's GENIUS Act.
Lubin said the law lowers legal ambiguities
Crypto innovation regulation is now clearer thanks to the GENIUS Act. This creates a more favorable climate for firms like SharpLink to fully use Ethereum's security, scalability, and smart contract capabilities.
The company may leverage on infrastructural expansion, institutional acceptance, and crypto market advancements due to its connection with Ethereum's ecosystem.
