Joe Lubin's SharpLink Boosts ETH Holdings to Nearly 800K, Raised $361M in Fresh Capital

SharpLink Gaming (SBET), the Nasdaq-listed digital asset treasury firm led by Ethereum co-founder Joe Lubin, added 56,533 ether (ETH) to its balance sheet last week, lifting its total holdings to almost 800,000 ETH worth about $3.6 ￰0￱ purchases, made between Aug. 18 and Aug. 24, averaged $4,462 per ETH, according to a Tuesday press ￰1￱ also reported staking rewards had risen to 1,799 ETH since the firm launched its treasury strategy in ￰2￱ Minneapolis-based company also disclosed in the update that it raised $360.9 million in net proceeds last week through its at-the-market (ATM) share issuance program. There's about $200 million in cash still available for further ETH acquisitions, the firm ￰3￱ rose 1.1% in the early minutes of the ￰4￱ treasury firms are on a buying spree, scooping up 2.6% of the asset's supply over the past few months, according to a Standard Chartered report , and pushing ETH's price to a fresh ￰5￱ Immersion Technologies (BMNR), led by Fundstrat's Tom Lee, is leading the pack by accumulating nearly 1.7 million ETH, followed by SharpLink's 800,000 ￰6￱ with the recent pullback in crypto prices, digital asset treasury stocks also ￰7￱ week, SharpLink approved a $1.5 billion stock buyback program in case the stock falls to or below the underlying net asset ￰8￱ Kendrick, head of research at global bank Standard Chartered, said that ether and ETH-focused treasury firms are undervalued following the sell-off, reiterating a $7,500 year-end price target for ￰9￱ more: Ether and ETH Treasury Companies Look Undervalued After Plunge: Standard Chartered