SharpLink Gaming, the leading corporate ether holder, has recently increased its Ethereum holdings by acquiring an additional 32,892 ETH, valued at $118.8 million. This move further solidifies its dominance as the largest corporate holder of Ethereum.
The Nasdaq-listed company, known by the ticker SBET, secured 18,712 ETH from Galaxy Digital on Thursday evening (ET), followed by another 14,180 ETH from Coinbase Prime, as per data from Arkham Intelligence.
This latest procurement of Ethereum comes after the company, initially a marketing and iGaming software firm, surpassed the Ethereum Foundation to become the biggest corporate holder of Ethereum earlier this week. Data from Lookonchain reveals that SharpLink has aggressively been accumulating ether, adding 144,501 ETH in just the past nine days. It currently possesses over 353,000 ETH, according to EmberCN’s report based on onchain data.
On Thursday, with backing from Consensys, SharpLink updated its SEC prospectus to significantly increase the amount of stock available for sale from the $1 billion initially proposed on May 30 to $6 billion. This move could potentially accelerate its Ethereum acquisition strategy even more.
Ethereum has been performing well amidst a wider market rally, with its price increasing by 8% in the past 24 hours to $3,605 according to The Block’s Ethereum price page. Despite Ethereum’s upbeat performance, Sharplink’s stocks closed 2.62% lower on Thursday at $36.4, according to data from Yahoo Finance. Nonetheless, the stock has seen a surge of 96.96% in the past five days and 373.96% year-to-date.
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