SharpLink Gaming adds $265 million Ethereum to treasury
The Nasdaq-listed company, #SharpLinkGaming , announced the purchase of an additional $264.5 million in Ethereum (ETH) over the past week. This move increases the total amount of ETH held by the company to 521,939 ETH, worth nearly $1.9 billion. SharpLink acquired 83,561 ETH from July 28 to August 3, reinforcing its position as one of the most active businesses in accumulating digital assets.
Strategic shift and explosive growth
SharpLink Gaming has shifted its focus from marketing to a strategy of accumulating Ethereum treasury since May, when it announced raising $425 million for this purpose. Since then, the company has continuously purchased $ETH , even spending up to $780 million just in July.
This transformation has created a positive wave in the stock market. SharpLink's shares (SBET) have increased by more than 420% since the end of May. The accumulation of ETH by public companies like SharpLink and BitMine Immersion (holding 833,000 ETH worth $3 billion) indicates a growing acceptance of Ethereum as a strategic asset by institutions.
This trend stems from the model of Strategy (formerly MicroStrategy) with Bitcoin, and now many companies are expanding into Ethereum as well. The price momentum of ETH is also driven by cash flows from Ethereum ETF funds, which have attracted over $9.5 billion since their launch. #anhbacong
