The Nasdaq-listed firm has built a treasury of 280,706 ETH, currently valued at nearly $858 million. This milestone was reached […]
The post SharpLink Amasses Largest Corporate Ethereum Treasury appeared first on Coindoo.
The Nasdaq-listed firm has built a treasury of 280,706 ETH, currently valued at nearly $858 million.
This milestone was reached after the company acquired over 74,000 ETH between July 7 and 13, spending $156 million at an average price of $2,852. SharpLink’s ETH accumulation streak has now eclipsed even Ethereum’s founding organization, which holds about 196,000 ETH.
The massive buy was powered by proceeds from a recent at-the-market (ATM) share offering, which raised $413 million. With over half of those funds still unspent, the company appears poised for further expansion. Its stock surged 10% following the announcement.
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SharpLink’s Ethereum play began in May, when it unveiled plans to pivot to ETH as its primary reserve asset. Backed by Consensys and chaired by Ethereum co-founder Joseph Lubin, the initiative included a $425 million private placement.
The post SharpLink Amasses Largest Corporate Ethereum Treasury appeared first on Coindoo.
Source: https://coindoo.com/sharplink-amasses-largest-corporate-ethereum-treasury/
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