Sharplink purchased 170,000 ETH, ranking second after the Ethereum Foundation. Can you buy it if the stock price drops by 70%? | Abmedia News Chain
American Online Gaming Sharplink announced its entry into Ethereum (ETH) strategic reserves at the end of May and announced on June 13 that it had purchased 176,270.69 ETH, spending a total of $460 million, becoming the largest Ethereum Reserves company in the world and the second largest holder of ETH after the Ethereum Foundation.
Sharplink purchases 176,000 ETH, ranking second after the Ethereum Foundation
Sharplink announces, it has purchased 176,270.69 ETH, spending a total of $460 million, making it the largest publicly listed company in the world and the second largest holder of ETH after the Ethereum Foundation.
The purchase of Ethereum comes from a private equity (pipes) transaction conducted on May 26, 2025, and $79 million additional in total gains raised through the market for new shares (ATM).
According to Sharplink Gaming's previous S-3 filing, Sharplink Games is expected to reach up to $1 billion through common stock, preferred stock, or warrants, and bonds, or more offerings.
(Sharplink announced a protected Ethereum billion magnesium plan, and the price of SBET shares has risen and seen multiple circuit breakers)
95% commitment of Ether creates native income
As of June 13, 2025, over 95% of the actively deployed Sharplink ETH has been deployed in Staking and Liquid solutions, generating native yields while also contributing to the security of the Ethereum network.
"This is a landmark moment for Sharplink and the listed companies to adopt digital assets. We believe that Ethereum is the infrastructure for future digital trade and decentralized applications. Our decision to use ETH reflects our main reserve assets and our firm belief in ETH as programmable digital capital."
Joseph Lubin, Chairman of Sharplink Gaming, co-founder of Ethereum, and Founder and CEO of Consensys, added: "Sharplink's ETH GROOND strategy represents a milestone and an innovative approach to applying Ethereum at the institutional level. Catalyst contributed to Ethereum technology.
Sbet rose from $6 to $124, then retreated to $9
Sarplink filed with the SEC on 6/12 S-3 form, registering over 58.7 million shares for potential resale in the future, which was interpreted by the market as "a broad sell-off about to occur," leading to panic selling pressures. The stock price collapsed by more than 70% in one day, nearly returning to its original form.
However, considering the content of its offerings, subscription prices for its pipes and other investors range from $6.16 to $7.995, which is between 15% to 50% of the current price of $9.21. This range does not seem to be an ROI that angel investors can fulfill.
This also indicates that investors in traditional financial markets may lack the psychological preparation for the volatility of cryptocurrency assets. SBET can rise from $6 to $124 in a matter of days, then drop back to $9 immediately. The rise and fall of these monster stocks is not really something ordinary people can handle!
(Not every company can be a small strategy: from the perspective of Sharplink's 70% dive, what are the risks for cryptocurrency reserve companies)
Risk warning: Cryptocurrency investments are extremely risky and can fluctuate significantly, and you may lose all your management. Please assess the risks carefully.
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