SharpLink Gaming (SBET), which is traded on Nasdaq and is known for its recent ETH strategy, announced a new capital increase of $200 million, aiming to increase its Ethereum (ETH) assets to over $2 billion.
The US-based company announced in a statement that it has signed a direct share agreement with four institutional investors. This transaction, priced at $19.50 per share, is expected to accelerate the company's ETH purchases.
With the latest acquisitions, SharpLink's ETH holdings have reached 521,939 ETH. The total value of these holdings is approximately $2 billion at the ETH price of $3,830.65 at the time of writing.
SharpLink Gaming is run by Ethereum co-founder Joe Lubin. The price of ETH has seen a significant surge today, trading at $3,795 at the time of writing. Its 24-hour increase has reached an impressive 4%.
“Sharplink is proud to have globally recognized institutional investors participate,” Sharplink co-CEO Joseph Chalom said in a statement. “This participation further strengthens our existing strong investor base and further validates our mission to be the world’s leading ETH treasury.”
*This is not investment advice.
