Sharplink Gaming has officially created its Ethereum Treasury Reserve with its first ETH purchase. The company has also become the largest publicly traded ETH holder, leading the way in corporate adoption of the largest altcoin by market cap.
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Sharplink Gaming Acquires 176,271 ETH For Ethereum Treasury
In a press release, the company announced that it has acquired 176,270.69 ETH for an aggregate purchase price of $462,947,816 and an average price of $2,626 per ETH. With this acquisition, the firm becomes the largest publicly traded holder of ETH globally.
Sharplink Gaming is also the second-largest holder behind the Ethereum Foundation. As Coingape reported, the company had raised $425 million through a private placement offering to establish this Ethereum Treasury.
In addition to this private placement offering, the company also disclosed that it raised an additional $79 million in approximate gross proceeds through its at-the-market (ATM) facility. The firm used the majority of the ATM proceeds to fund further ETH purchases, which sums up the $462 million it used for this acquisition.
Sharplink Gaming also revealed that these collective purchases have generated ETH per share growth of 11.9% since June 2 earlier this month. The company has also deployed over 95% of its ETH holdings for staking and liquid staking solutions, thereby contributing to Ethereum’s network security while generating native yield.
Breaking: Sharplink Gaming Becomes Largest 'Publicly Traded' Ethereum Holder With 176,271 ETH Purchase
Sharplink Gaming has officially created its Ethereum Treasury Reserve with its first ETH purchase. The company has also become the largest publicly traded ETH holder, leading the way in corporate adoption of the largest altcoin by market cap.
Advertisement
Advertisement
Sharplink Gaming Acquires 176,271 ETH For Ethereum Treasury
In a press release, the company announced that it has acquired 176,270.69 ETH for an aggregate purchase price of $462,947,816 and an average price of $2,626 per ETH. With this acquisition, the firm becomes the largest publicly traded holder of ETH globally.
Sharplink Gaming is also the second-largest holder behind the Ethereum Foundation. As Coingape reported, the company had raised $425 million through a private placement offering to establish this Ethereum Treasury.
In addition to this private placement offering, the company also disclosed that it raised an additional $79 million in approximate gross proceeds through its at-the-market (ATM) facility. The firm used the majority of the ATM proceeds to fund further ETH purchases, which sums up the $462 million it used for this acquisition.
Sharplink Gaming also revealed that these collective purchases have generated ETH per share growth of 11.9% since June 2 earlier this month. The company has also deployed over 95% of its ETH holdings for staking and liquid staking solutions, thereby contributing to Ethereum’s network security while generating native yield.
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