U.S. firm SharpLink Gaming has significantly expanded its Ethereum holdings to $3.5 billion, reinforcing its strategic shift towards digital assets amid wider

SharpLink moved 379M USDC to Galaxy Digital, hinting at a possible Ethereum purchase.

SharpLink Gaming announces a massive $5B raise to expand its Ethereum holdings.

Investing.com -- SharpLink Gaming, Inc. (NASDAQ:SBET) stock rose 5% on Friday after the company announced its Board of Directors has authorized a stock repurchase program of up to $1.5 billion of the company’s common stock. The significant buyback program is designed to provide enhanced market support and optimize capital allocation, according to the company. SharpLink, which describes itself as one of the world’s largest corporate holders of Ether (ETH), indicated the repurchase plan would allow it to act strategically if its stock trades at or below the net asset value of its ETH holdings. "At SharpLink, we remain committed to a disciplined capital markets strategy," said Joseph Chalom, Co-Chief Executive Officer of SharpLink. "Should there exist periods where our stock trades at or below the net asset value (’NAV’) of our ETH holdings, it would be dilutive on an ETH per share basis to issue new equity through our capital raising efforts. In this scenario, the accretive course of action may be to repurchase our common stock." The company stated that repurchases may be made through open market purchases, privately negotiated transactions, or other means permitted under applicable securities laws. The timing and amount of repurchases will depend on market conditions, share price, and trading volume. SharpLink noted it is not obligated to repurchase any specific number of shares, and the program may be suspended or discontinued at any time. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. Should you invest $2,000 in SBET right now? Before you buy stock in SBET, consider this: ProPicks AI are 6 easy-to-follow model portfolios created by Investing.com for building wealth by identifying winning stocks and letting them run. Over 150,000 paying members trust ProPicks to find new stocks to buy – driven by AI. The ProPicks AI algorithm has just identified the best stocks for investors to buy now. The stocks that made the cut could produce enormous returns in the coming years. Is SBET one of them?

Investing.com -- SharpLink Gaming Inc. (NASDAQ:SBET) stock rose 11% after the company announced it had grown its Ethereum (ETH) holdings to 205,634 tokens and earned 322 ETH in staking rewards since launching its treasury strategy last month. The Minneapolis-based company acquired 7,689 ETH last week at a weighted average price of $2,501 per token, according to a press release issued Monday. SharpLink, which describes itself as "the world’s largest publicly traded company to adopt Ethereum as its primary treasury reserve asset," has committed 100% of its ETH holdings to staking and restaking protocols. To fund its crypto expansion, SharpLink raised approximately $64.0 million through its At-The-Market facility between June 28 and July 4, selling nearly 5.5 million shares of common stock. About $37.2 million of this capital, raised on July 3, has yet to be allocated to ETH purchases and is expected to be deployed this week. The company reported earning approximately 100 ETH through staking rewards last week, contributing to its total estimated reward yield of 322 ETH since initiating the program on June 2. SharpLink also introduced a new transparency metric called "ETH Concentration," which measures the company’s ETH exposure relative to its equity structure. This figure has grown from 2.00 ETH to 2.37 ETH since mid-June, representing a 19% increase in three weeks. Joseph Lubin, SharpLink Chairman and Ethereum Co-Founder, emphasized the company’s "disciplined execution" of its ETH-centric treasury management strategy and commitment to operational transparency. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. Before you buy stock in SBET, consider this: ProPicks AI are 6 easy-to-follow model portfolios created by Investing.com for building wealth by identifying winning stocks and letting them run. Over 150,000 paying members trust ProPicks to find new stocks to buy – driven by AI. The ProPicks AI algorithm has just identified the best stocks for investors to buy now. The stocks that made the cut could produce enormous returns in the coming years. Is SBET one of them?

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