Sharplink Gaming (sbet), a listed gaming technology company with a crypto strategy focusing on ether
said Tuesday that it increased its Ministry of Finance’s holdings of the second largest cryptocurrency to 188,478 ETH.
The Minneapolis-based company bought 12,207 ETH for approx. $ 30.7 million between June 16 and June 20 at an average price of $ 2,513 per Coin, according to a press release.
To finance the purchase, Sharplink raised $ 27.7 million in net proceeds through its market (ATM) offer and sold over 2.5 million shares.
Sharplink in one of the growing group of public companies recently about adding cryptocurrencies to their balance, after Playbook to Michael Saylor’s Bitcoin-focused strategy (MSTR).
The latest step is a $ 450 million collection round earlier this month through a private round from a wide range of investors, including Consensys, Galaxy and Pantera Capital, to buy ETH. Ethereum co-founder and Consensys CEO Joseph Lubin also joined the company as chairman of the board. The company now claims the boasting right to be the largest publicly traded owner of Ether globally with approx. $ 470 million in ETH at current prices.
Since the launch of its ETH Treasury strategy, the company said it has put all its crypto stack earning 120 ETH in rewards. The company also reported an increase of almost 19% in ETH per year. Share during this time.
“This step reflects our confidence in Ethereum’s utility and our obligation to explore transformative technologies that can unlock new value for our business and shareholders,” Lubin said in a statement.
Read more: Sharplink acquires $ 463m in ether, stocks remain 66% lower
