SharpLink Adds $252M in ETH, Holds Nearly 800K Ether

Sharplink Gaming reinforced its Ether cash last week, acquiring $ 252 million in Eth and collecting $ 360.9 million thanks to its market action program (ATM).

The company now holds 797,704 ether (ETH), worth around 3.7 billion dollars, with 200 million dollars in cash for other purchases, the company revealed during an update on Tuesday.

“Our regional execution of the Sharplink ETH Treasury strategy continues to demonstrate the strength of our vision,” said CO-PDG Joseph Chalom, adding that the company has committed to “building a long-term value for our shareholders while simultaneously supporting the wider Ethereum ecosystem”.

According to the report, Sharplink acquired 56,533 ETH at an average price of $ 4,462 per token last week. The company also pointed out that the total standby awards since the launch of its ETH cash strategy in June had climbed to 1,799 ETH.

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Nearly 800,000 ETH in reserve

The company based in Minneapolis has put its treasure on the scale since June, when it disclosed the ETH as its basic reserve element. In the past four weeks, Sharplink has gone from his assets of 438,000 ETH to nearly 800,000 ETH, making it one of the biggest Ethereum business holders in the world.

The company has also introduced a new metric, “ETH concentration”, which measures ETH assets for 1,000 diluted shares assumed in circulation. This figure is now greater than 4.0, more than doubling since June.

In parallel with its ETH thrust, the Sharplink board of directors approved a share repurchase plan of $ 1.5 billion last week. The program aims to improve the value of shareholders while the company continues to deploy capital in its cryptographic strategy.

Sharplink’s shares closed $ 0.96 on Monday, down 6.8% the day before the slightly higher check mark in the exchanges after working hours.

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Tom Lee calls Eth Bottom while Bitmine adds $ 21 million

Tom Lee de Fundssratt predicted on Tuesday that Ether would find his buttocks shortly, because his immersion firm Bitmin Immersion Technologies de l’Eth Trewmin bought an additional $ 21 million.

Publishing on X, Lee quoted a note from the technical strategist of Fundstrat, Mark Newton, who said that ETH showed “very good risk / reward” nearly $ 4,300 and could soon rebound around $ 5,400.