Sharplink Gaming (sbet), the public company, which is about a crypto -finance ministry that focused on Ethereum, revealed on Friday that it acquired 176,271 ether
For nearly $ 463 million.
The purchase makes the company the largest ETH holder among listed companies, Sharplink said in a press release.
The company knocked on its $ 1 billion dollars in the market (ATM) joint stock to $ 79 million to help fund the Eth acquisition.
ETH purchasing announcement came on the heels of an archiving on Thursday that potentially activated investors in the company’s private location round to sell shares and send the stock prices 70% after market hours. Some speculated that the company may have leaned more strongly into ATM to advertise a larger greater crypto purchase. Shares remain lower by 66% in Friday action.
Sharplink in one of the growing list of public companies recently about adding cryptocurrencies to their balance. It raised $ 450 million 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.
Shares exploded 4,300% higher in a little more than a week after the company’s crypto strategy in May, but have given back more than 90% of the rally this month.
Following the massive price fluctuations and today’s decline, shares are still about 500% higher than before the Treasury turns.
Read more: Ethereum Treasury Firm Sharplink Gaming jumps 70% – but there may be a turn
