Suspected SharpLink Gaming (NASDAQ:SBET) has once again purchased 5,989 ETH through Galaxy Digital. As of now, SharpLink Gaming (NASDAQ:SBET) holds 194,000 ETH, with a cost of approximately $2,611.

SharpLink Gaming ($SBET) operates by issuing additional shares at the current price to raise cash, which is then entirely used to purchase $ETH.

The technical term is At-The-Market (#ATM), which is a financing method where a public company sells shares directly to the open market at the current market price. It is also a very flexible and gradual fundraising mechanism, especially suitable for small growth companies or companies with volatile market values.

Since SBET submitted the ATM shelf filing (such as the S-3 form) to the SEC, the trend has become increasingly stable, rising from below $9 to above $14, with a significant increase on Wednesday, approaching $12 at one point.