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Benzinga
Benzinga
Business
Henry Khederian

SharpLink Continues Ethereum Buying Spree, Stock Surges

SharpLink Ethereum SBET SharpLink Gaming Nasdaq
Closeup,Of,Golden,Ethereum,Cryptocurrency,Surrounded,By,More,Coins,And

Sharplink Gaming Inc (NASDAQ:SBET) shares are trading higher Tuesday morning following the announcement of another significant Ethereum (CRYPTO: ETH) purchase. The company, which has pivoted to an ETH-centric treasury strategy, acquired an additional 7,689 ETH last week at an average price of $2,501 per coin.

What To Know: This latest acquisition brings SharpLink’s total holdings to 205,634 ETH. The purchases were funded by the company’s At-The-Market facility, which raised approximately $64.0 million in net proceeds between June 28 and July 4. A substantial portion of this capital, about $37.2 million, is still slated for ETH purchases in the current week.

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