Between June 28 and July 4, SharpLink Gaming acquired 7,689 ETH at an average price of $2,501, bringing its total Ethereum holdings to 205,634 ETH.
The acquisition was funded through a $64 million raise via an At-The-Market (ATM) offering. The company indicated that additional ETH purchases may follow in the future.
All of SharpLink’s ETH has been staked since June 2, generating 322 ETH in staking rewards. In addition, the company has launched an “Ethereum Concentration Index” to provide investors with greater transparency around its ETH holdings.
Despite the stock (SBET) being rated “Underperform” due to weak fundamentals and declining revenue, SharpLink’s strategic focus on Ethereum-based gaming could offer long-term growth potential.
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