SharpLink Gaming Gains on Ethereum Purchase

By Nicholas G. MillerShares of SharpLink Gaming rose after the online marketing company said it purchased 10,000 ether from the Ethereum Foundation for $25.8 million.The stock rose 16%, to $21.44, and is now up 181% over the past 12 months.The acquisition comes three days after SharpLink said it had acquired 7,689 ether between June 28 and July 4 to bring its Ethereum holdings to 205,634.The Minneapolis company also said it raised $37.2 million on July 3 by selling stocks with the intention of using it to purchase additional ether this week.The transaction with the Ethereum Foundation closed Thursday, SharpLink said.Write to Nicholas G. Miller at [email protected]