Sharplink Gaming has announced a $200 million share offering priced at $19.50 per share.
Proceeds are expressly earmarked to expand the company’s holdings of Ethereum (ETH), with an ambitious goal to acquire treasury reserves equivalent to 1% of the cryptocurrency’s total circulating supply.
This move builds upon Sharplink’s existing significant position. The company already holds 521,939 ETH, valued at approximately $1.9 billion at current prices.
This substantial holding makes Sharplink one of the largest corporate holders of Ethereum globally.
The strategy reflects a broader trend among corporations adopting a crypto-centric treasury reserve approach, aligning with notable figures like Michael Saylor who champion such allocations.
At a current trading price of $3,812, Ethereum is approaching its all-time high of $4,878.
Sharplink’s planned accelerated acquisition of Ethereum has the potential to exert considerable influence on the digital asset’s market dynamics and price structure.