GameSquare has announced a plan to create a $100 million Ethereum treasury, aiming for yields between 8% and 14% through decentralized finance strategies.
Ethereum Treasury Announcement
In a press release dated July 8, GameSquare announced plans for an underwritten public offering of 8,421,054 shares at $0.95 each, expected to raise approximately $8 million before expenses. The funds will be used to kickstart the Ethereum treasury.
GameSquare's Financial Strategy
CEO Justin Kenna stated that this initiative will enhance the company’s financial flexibility and support a clear capital allocation strategy focused on acquiring ETH and possible stock buybacks.
Shifts in the Ethereum Market
Following GameSquare's announcement, SharpLink Gaming increased its ETH reserves by 7,689 ETH, totaling $19.2 million. Additionally, Bit Digital revealed the transition of its entire treasury to Ethereum, accumulating over 100,000 ETH.
Given these market changes and the growing interest in Ethereum, companies like GameSquare and SharpLink reflect confidence in the future of programmable cryptocurrencies and yield generation.
