SharpLink Raises $200M in Direct Offering to Raise ETH Holdings to $2B
Main Idea
SharpLink Gaming raised $200 million in a private placement to increase its ether holdings, aiming to exceed $2 billion in value.
Key Points
1. SharpLink Gaming raised $200 million in a private placement to purchase more ether (ETH).
2. The company's ether holdings currently stand at 521,939 ETH, valued at just under $2 billion based on ether's price of $3,830.65.
3. SharpLink shares rose around 3.3% to $22.97 following the announcement and ETH's 4.5% price rally.
4. The funds will be used to accumulate ETH and stake the tokens in exchange for Ethereum Treasury EtherDigital Asset Treasury.
Description
SharpLink Gaming (SBET), a Nasdaq-listed ether treasury firm, said it has raised $200 million to buy more ether (ETH) in expectation of boosting its holdings to more than $2 billion worth of the second-largest cryptocurrency. The Minneapolis-based company entered into a securities purchase agreement with four institutional investors to raise the capital through a direct offering at a price of $19.50 per share, it said in a statement. The firm's ether holdings sit at 521,939 ETH as of its latest ...
Latest News
- Crypto Hackers Capitalize on ETH Surge, Offloading $72M This Week2025-08-15 14:28:24
- Hyperbeat Secures $5.2M Backing From ether.Fi, Electric Capital2025-08-15 13:40:10
- BONK Holds Key Support After Heavy Selling Hits Solana Meme Token2025-08-15 13:35:33
- CoinDesk 20 Performance Update: Avalanche (AVAX) Gains 3.4% as Index Trades Higher2025-08-15 13:32:14
- Circle to Offer 10 Million Class A Shares at $130 Each2025-08-15 10:00:47