SharpLink is continuing to actively increase its Ethereum holdings, completing several major transactions in recent months.
Ethereum Acquisition
SharpLink acquired $30.7 million in Ethereum at an average price of $2,513 per token. This purchase builds on the initial Ethereum buy made on June 13 for $463 million, when the company acquired over 176,000 ETH in a single transaction. Currently, SharpLink holds 188,478 ETH, making it the second-largest known corporate holder of Ethereum behind the Ethereum Foundation, which holds approximately 213,072 ETH.
Financing Through Share Sale
To finance this latest acquisition, SharpLink sold 2.54 million shares through its at-the-market facility, generating $27.7 million in net proceeds. The company confirmed that the capital raised was directed into Ethereum purchases during its second accumulation phase.
Ethereum Staking
In addition to acquiring ETH, SharpLink has allocated its entire holdings to staking solutions, which have already earned the firm 120 ETH, valued at over $293,000 since June 2.
Through strategic acquisitions and active capital management, SharpLink has significantly strengthened its market position in Ethereum, which could contribute to its further growth and consolidation in the industry.
