SharpLink Gaming Boosts Ether Holdings by $118 Million

SharpLink Gaming, recognized as the largest corporate holder of ether, has further expanded its holdings by acquiring an additional 32,892 ETH, valued at $118.8 million. This acquisition reflects the company’s positive outlook on Ethereum's future. On Thursday evening, the Nasdaq-listed firm, trading under the SBET ticker, purchased 18,712 ETH from Galaxy Digital, followed by another 14,180 ETH from Coinbase Prime, according to data from Arkham Intelligence. This latest acquisition comes shortly after SharpLink became the largest corporate holder of Ethereum earlier this week, surpassing the holdings of the Ethereum Foundation. The company has aggressively accumulated ether, adding a total of 144,501 ETH over the past nine days, resulting in a current total of over 353,000 ETH, as reported by EmberCN based on on-chain data. On Thursday, the company updated its prospectus with the SEC, proposing a significant increase in stock available for sale from $1 billion to $6 billion, potentially to enhance its ETH acquisition strategy. Ether has seen a price increase amidst a broader market rally, trading up 8% within the last 24 hours at a price of $3,605, according to The Block's Ethereum price page. Despite SharpLink’s stock closing down 2.62% at $36.4, it has significantly risen by 96.96% over the past five days and an impressive 373.96% year-to-date. Disclaimer: The Block is an independent media source that provides news, research, and data. As of November 2023, Foresight Ventures is a key investor in The Block. Foresight Ventures also invests in other companies within the crypto sector. Crypto exchange Bitget acts as an anchor LP for Foresight Ventures. The Block maintains its operational independence to provide objective, impactful, and timely information about the cryptocurrency industry. Current financial disclosures are available.