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The Minneapolis-based firm's ether holdings sit at 521,939 ETH as of its latest purchases.
Aug 7, 2025, 4:11 p.m.
SharpLink Gaming (SBET), a Nasdaq-listed ether treasury firm, said it has raised $200 million to buy more ether (ETH) in expectation of boosting its holdings to more than $2 billion worth of the second-largest cryptocurrency.
The Minneapolis-based company entered into a securities purchase agreement with four institutional investors to raise the capital through a direct offering at a price of $19.50 per share, it said in a statement.
The firm's ether holdings sit at 521,939 ETH as of its latest purchases, worth just under $2 billion based on ether's price of $3,830.65 at the time of writing.
SharpLink shares rose around 3.3% at $22.97 in the late U.S. morning on Thursday, following ETH's 4.5% rally over 24 hours to reclaim the $3,800 level.
The company is one of a growing number to adopt an ether treasury strategy, raising funds to accumulate ETH and staking the tokens in exchange for rewards.
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
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