SharpLink Gaming Stock Soars as Ethereum Treasury Firm Boosts Stash to $527 Million
2025-07-08 18:52:11
Main Idea
SharpLink Gaming has increased its Ethereum holdings to 205,634 coins, worth over $527 million, following a recent purchase of 7,689 ETH, which contributed to a 26% rise in its stock price.
Key Points
1. SharpLink Gaming's stock (NASDAQ: SBET) rose nearly 26% after announcing an additional purchase of 7,689 ETH at an average price of $2,501 per coin.
2. The company now holds 205,634 ETH, valued at over $527 million, and raised an additional $64.2 million through its ATM facility by selling 5.4 million shares.
3. SharpLink is among several Nasdaq-listed companies adopting cryptocurrency holdings on their balance sheets, following the approach of firms like MicroStrategy.
4. Ethereum's price was recently $2,565, up 1% over 24 hours and 6% over the past month, but still 48% below its 2021 all-time high of $4,878.
Description
The "Ethereum treasury firm" is buying the second biggest digital coin to help shareholders get better value for money.
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