Ethereum Treasury SharpLink Adds $265 Million in ETH to Holdings
Main Idea
SharpLink Gaming has significantly increased its Ethereum holdings, purchasing $264.5 million worth of ETH, as part of its strategic pivot to accumulate the cryptocurrency.
Key Points
1. SharpLink Gaming bought 83,561 ETH between July 28 and August 3, 2025, increasing its total holdings to 521,939 ETH worth nearly $1.9 billion.
2. The company's stock price has risen over 420% since the end of May 2025, when it announced its pivot to accumulating Ethereum.
3. SharpLink initially raised $425 million in May 2025 to establish an Ethereum treasury and has since spent $780 million on ETH purchases.
4. Ethereum's price was around $3,631 per coin at the time of the announcement, down 0.4% over 24 hours but up 44% over 30 days due to increased investor interest.
5. SharpLink's strategy mirrors that of other firms like MicroStrategy, which shifted focus to cryptocurrency accumulation, leading to significant stock price gains.
Description
The company now has 521,939 Ethereum worth nearly $1.9 billion.
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