Sharplink gaming (Sbet)A nasdaq -noted ether contact company said it has raised $ 200 million to buy more ether (Eth) In anticipation of increasing its holdings to more than $ 2 billion value of the second largest cryptocurrency.
The Minneapolis-based company signed a securities with four institutional investors to raise capital through a direct offer at a price of $ 19.50 per year. Stock, says that in a statement.
The company’s ether Holdings sits on 521,939 ETH after its latest purchase, worth a little under $ 2 billion based on Ether’s price of $ 3,830.65 at the time of writing.
Sharplink shares rose about 3.3% of $ 22.97 in the late US morning on Thursday, after ETH’s 4.5% rally over 24 hours to recover the $ 3,800 level.
The company is one of a growing number to adopt an Ether Treasury strategy that raises money to accumulate ETH and insert tokens in exchange for rewards.
