SharpLink Gaming, now the second-largest corporate holder of Ether, has strengthened its crypto treasury strategy with a massive purchase of 77,210 ETH worth $295 million.
This single acquisition surpasses Ethereum’s net issuance of 72,795 ETH over the past month, according to Ultra Sound Money.
The firm has staked a large portion of its newly acquired ETH to earn staking rewards. As a result, SharpLink’s total ETH holdings have risen to more than 438,000 ETH — currently valued at over $1.69 billion — second only to BitMine Immersion Technologies, which holds over $2 billion worth of Ether.
In a recent X post, SharpLink highlighted Ethereum’s nonstop operational model by stating, “Banks close on weekends. Ethereum runs 24/7.”
The company has also filed an amended prospectus to raise its stock sale offering from $1 billion to $6 billion, with most of the funds aimed at expanding its ETH accumulation strategy.
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