SharpLink Gaming Expands Ethereum Treasury To 205,634 ETH, SBET Stock Surges 12%

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Coingape
07-08

SharpLink Gaming is showing no signs of shuttering its aggressive Ethereum accumulation strategy with a new buying announcement. The company is extending its lead as the largest Ethereum treasury company, splurging $19.2 million on the haul.

SharpLink Gaming Buys 7,689 ETH for $19.2 Million

US sports betting company SharpLink Gaming has acquired 7,689 ETH at an average price of $2,501 to extend its Ethereum treasury. According to a press release, SharpLink sank $19.2 million on the new haul of ETH tokens, continuing an aggressive accumulation streak.

The purchase brings SharpLink Gaming’s total holding to 205,634 ETH, cementing its place as the largest publicly traded Ethereum holder. SharpLink Gaming says it is committing 100% of its ETH to staking and restaking protocols to earn yield.

Over the last week, the company has gained 100 ETH from its staking strategy. Since the launch of its Ethereum Treasury reserves, SharpLink Gaming has earned a total of 322 ETH from staking and yield-generation strategy.

This is a developing story.

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Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he's not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
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