SharpLink, a digital asset management company traded on Nasdaq, increased its Ethereum (ETH) portfolio to 859,853 units with its latest purchase.
SharpLink’s Ethereum Holdings Reach 859,853 ETH, Exceeding $3.5 Billion
According to the company’s announcement, an additional 19,271 ETH were purchased at an average price of $3,892. With the new purchases, SharpLink’s total ETH holdings reach a market value of approximately $3.5 billion.
The company also reported this week that it had raised $76.5 million in new capital at a 12% premium to its market price. SharpLink also reported having accumulated 5,671 ETH worth of staking rewards as of June 2nd, and has $36.4 million in cash reserves.
SharpLink’s CEO emphasized that the company’s strategy is based on long-term trust in the Ethereum ecosystem, saying, “Ethereum’s scalability and institutional adoption potential are at the core of our portfolio.”
SharpLink continues to expand its position in the digital asset market with the aim of both increasing staking revenues and diversifying its long-term asset management.
*This is not investment advice.