Ethereum Treasury Sharplink to Raise $200 Million for More ETH Purchases
Main Idea
Sharplink Gaming plans to raise $200 million to add Ethereum to its corporate treasury, already holding $1.9 billion in ETH as part of its accumulation strategy.
Key Points
1. Sharplink Gaming aims to raise $200 million to increase its Ethereum holdings, with shares priced at $19.50 each.
2. The company currently holds 521,939 ETH worth $1.9 billion, making it one of the world's largest Ethereum treasuries.
3. Sharplink initiated its Ethereum-accumulation strategy in June of this year and is nearing 1,000 ETH in total holdings.
4. Bettors on Myriad Markets are wagering on whether Sharplink will accumulate at least one million ETH by mid-September, with 55% betting against it.
5. BitMine Immersion, backed by Peter Thiel, holds the largest Ethereum treasury with roughly $2.9 billion in ETH.
Description
The ETH treasury firm is selling shares of its common stock for $19.50 per share to raise funds that will go toward adding to its nearly $2 billion Ethereum stockpile.
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