Gaming technology firm SharpLink Gaming has significantly increased its Ethereum reserves, purchasing 4,951 ETH worth approximately $12.4 million within a concentrated five-hour buying spree.
This acquisition raises SharpLink Gaming’s total Ethereum holdings to 202,800 ETH. The firm acquired the latest batch of ETH at an average price of $2,606 per token.
Despite this substantial expansion of its ETH position, SharpLink Gaming currently faces significant unrealized losses on its Ethereum holdings. Market conditions have contributed to an unrealized loss estimated at nearly $22.92 million across its entire ETH portfolio.