SharpLink Gaming increased its treasury holdings of Ethereum (ETH) to over 200,000 ETH for the first time, reaching approximately $527.4 million based on the current Ethereum price.
The company acquired an additional 7,689 ETH for approximately $19.2 million between June 28 and July 4 at an average price of $2,501 per coin.
SharpLink has embraced innovative transparency metrics like ETH Concentration and has placed its ETH holdings into staking protocols to generate yield.
The company raised $64 million through a stock sale and plans to allocate $37.2 million of it to purchase more ETH. Shareholders can track their exposure to ETH through the newly introduced metric, ETH Concentration.