Sharplink Gaming raised $ 200 million from institutional investors in an offer of direct shares to further supply his purchasing frenzy of Ethereum (ETH) and to take his assets beyond $ 2 billion.
The financing cycle, which is expected to close on August 8, was at a price of $ 19.50 per share and managed by AGP / Alliance Global Partners. SOCIETE GENERAL acted as a co-space agent and Cantor Fitzgerald was a financial advisor for the agreement.
According to the announcement of August 7, the recovery product will be used exclusively to acquire more Ethereum.
The increase comes just two days after Sharplink revealed an Ethereum acquisition of $ 304 million in a dry deposit, revealing the purchase of 83,561 ETH at an average price of $ 3,638. This purchase brought the total ETH ETH reserves to 521,939 ETH, valued at around 1.9 billion dollars from press time.
Sharplink began to build his ETH treasure only two months ago, quickly playing in his position thanks to more than $ 540 million in market actions (ATM).
During this short period of time, the company based in Minneapolis exceeded 64 other companies to become the second company ETH holder followed by Ser, a database on the treasure of digital assets.
Only Bitmin contains more, with 833,137 ETH estimated at nearly $ 3 billion. However, while the accumulation of Bitmine has been rapid and wide, Sharplink took a more defined position, framing Ethereum as an “infrastructure reserve”, a long -term base for exposure to the DEFI ecosystem.
The whole ETH of Sharplink is currently marked out, generating more than $ 3.4 million in awards since June. This ignition strategy introduces an aggravated dynamic: as the price of ETH and yield yield increases, the rewards can be reinvested to further increase the treasure.
The company’s concentration of ETH, defined as assets for 1,000 shades, increased by 83% over the same period, reflecting the impact of the treasury on the equity of shareholders.
Sharplink, previously focused on the infrastructure of games and sports betting, seems to be rebounded around its ETH ETH cash strategy. This decision is aligned with an increasing trend between technological companies using crypto reserves not only as speculative games, but as cornerstone of long -term corporate financial infrastructure.
