Corporate strategies for accumulating cryptocurrencies continue to evolve, focusing on Ether and more exotic assets.
SharpLink Gaming's Ether Purchases
Nasdaq-listed SharpLink Gaming has acquired 18,712 ETH via Galaxy Digital and 14,180 ETH via Coinbase Prime, according to analysts at Arkham Intelligence.
SharpLink now manages more than 280,000 ETH tokens, valued at $1 billion. In the last nine days alone, the company has purchased 144,501 ETH worth $515 million, rivaling the nonprofit Ethereum Foundation in terms of Ether in reserves.
Investments in Bittensor and TAO
Meanwhile, Nasdaq-listed TAO Synergies Inc. has made a significant investment in Bittensor. On July 18, the firm purchased 29,899 TAO tokens valued at $10 million to create a cryptocurrency treasury. The average purchase price was $415.
Executive chairman Joshua Silverman stated: "We believe TAO will continue to grow as decentralized AI evolves and takes an increasing share of overall spending on AI-enabled technologies."
TAO Synergies plans to stake all these assets on the Bittensor platform, rewarding users for artificial intelligence training.
Meme Coins in the Mix
Mining infrastructure company Bit Origin has announced it has secured a $500 million investment in Dogecoin. The firm aims to create one of the first corporate treasuries based on the oldest memecoin.
According to a press release, Bit Origin entered agreements with accredited investors to sell $400 million in shares and issue $100 million in convertible bonds. CEO Jinghai Jiang commented: "What started as a joke has evolved into a globally liquid asset with payments utility."
DOGE has surged more than 16% in the past 24 hours and is trading at $0.25.
Corporate strategies for accumulating cryptocurrencies, including Ether and meme coins, showcase growing interest and asset diversity among public companies.
