SharpLink Gaming Shares Gain After Expanding Ethereum Treasury Reserve

SharpLink Gaming Shares Gain After Expanding Ethereum Treasury Reserve

By Connor HartShares of SharpLink Gaming rose after the company said it expanded its total holdings of Ethereum.The stock climbed 11%, to $9.95, in morning trading Tuesday. Shares have gained almost 7% over the past year.The sports-betting marketing company said it acquired an additional 12,207 ETH for about $30.7 million from June 16 to 20, representing an average price of $2,513 per ETH.During the same period, the company raised about $27.7 million in net proceeds from selling more than 2.55 million shares of its common stock. The company said it plans to use a majority of these proceeds to further increase its ETH treasury holdings."As digital assets like ETH increasingly shape the future of finance and technology, we're positioning SharpLink at the intersection of blockchain advancement and next-generation iGaming engagement," Chairman Joseph Lubin said.Lubin co-founded Ethereum, and he serves as chief executive of blockchain company Consensys Software. Lubin became chairman of SharpLink's board earlier this month after the company closed a $425 million private placement led by Consensys to become the largest public corporate holder of ether.Write to Connor Hart at [email protected]

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