SharpLink buys $295M in ETH — more than all the Ether issued last month
Main Idea
SharpLink Gaming has purchased 77,210 ETH worth $295 million, becoming the second-largest corporate holder of Ether, and has staked most of the acquired ETH to earn rewards.
Key Points
1. SharpLink Gaming acquired 77,210 ETH worth $295 million, exceeding the total Ether issued in the past 30 days (72,795 ETH).
2. The company staked most of the acquired ETH to earn staking rewards, bringing its total ETH holdings to over 438,000 ETH worth more than $1.69 billion.
3. SharpLink is the second company to hold over $1.5 billion worth of ETH in its treasury, with Bitmine Immersion Tech being the largest holder.
4. BitMine Immersion Technologies holds over 566,000 ETH worth more than $2 billion and aims to hold at least 5% of ETH's total supply (6 million ETH).
5. Corporations and ETFs collectively hold 8.12 million ETH (6.73% of total supply) worth over $31 billion, according to Strategic ETH Reserve.
Description
SharpLink’s purchase of 77,210 ETH comes days after the online technology company appointed BlackRock veteran Joseph Chalom as its new co-CEO.
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