SharpLink Adds $252M in ETH
The firm holds approximately $3.6 billion worth of ETH.
SharpLink purchased 56,533 ETH last week for around $252 million, pushing its total ether holdings to 797,704 ETH worth approximately $3.61 billion as of Tuesday afternoon.
What’s the Scoop?
- Treasury Growth: SharpLink’s ETH stash grew by 8% last week, acquired at an average price of $4,462 per coin.
- War Chest: The firm raised $360.9 million via its equity facility and said it still has $200 million in cash set aside for more ether purchases.
- Staking Payouts: Since launching its treasury strategy on June 2, the company has earned 1,799 ETH (over $8 million) in staking rewards.
- Buyback Program: SharpLink previously authorized a $1.5 billion stock repurchase program, aiming to act when shares dip below ETH NAV.
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