SharpLink Acquired 77K More ETH, Boosting Holdings Over $1.6B

SharpLink Gaming (SBET), the Nasdaq-listed crypto treasury firm helmed by Ethereum co-founder and ConsenSys CEO Joseph Lubin, unveiled on Tuesday that its ether (ETH) holdings increased to 438,190 tokens, worth roughly $1.68 billion at current prices

The company bought 77,209 ether (ETH), or $297 million, through the week ending on July 27. It has also raised $279 million by selling shares, tapping at-the-market equity facility.

Shares are lower by another 7% today, now trading at $19.46 versus its 52-week high of $124 reached just two weeks ago, but still

The Minneapolis-based firm has pursued an aggressive treasury strategy since its late May pivot, raising funds to accumulate the second-largest cryptocurrency and staking the tokens in exchange for rewards. The firm said it has earned 722 ETH since then,

The firm recently appointed former BlackRock executive Joseph Chalom as co-CEO.

Read more: Ether-Focused SharpLink Appoints Former BlackRock Executive as Co-CEO