SharpLink Gaming (NASDAQ: SBET) saw its stock jump 10.3% on Monday, closing at $23.88, after adding another $73 million worth of Ethereum (ETH) to its growing crypto treasury. The company acquired 24,371 ETH via Coinbase Prime, according to Arkham Intelligence data.
This marks SharpLink’s third major ETH purchase in just four days. The firm previously bought 16,374 ETH on July 13 and 21,487 ETH on July 11. Altogether, SharpLink has added 62,232 ETH, worth around $186.4 million, in less than a week.
The ETH was transferred from a Coinbase Prime hot wallet, which shows active movement of assets, including Ether, Shiba Inu, and Uniswap (UNI), based on Arkham’s data.
SharpLink has quickly become one of the most aggressive Ethereum buyers in the corporate world. Since launching its ETH treasury strategy in late May, the company has reportedly accumulated around 294,000 ETH, with 74,464 ETH staked, according to EmberCN.
The crypto pivot came after a $425 million private placement led by Ethereum co-founder and Consensys CEO Joseph Lubin, who now serves as SharpLink’s chairman.
The Nasdaq-listed company was initially famous due to its affiliate marketing and iGaming software, but it has adopted Ethereum as its long-term development strategy.
According to CoinMarketCap, Ethereum briefly hit above $3,000 on Monday but settled at around $2,972, a drop of 2.38% in 24 hours. SharpLink is yet to publicly verify the most recent ETH acquisition or report its new ETH holdings.
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