The battle for digital gold continues! Sports betting platform SharpLink Gaming is bolstering its Ethereum reserves, regaining the top spot as the largest public holder of ETH after a brief stint in second place behind BitMine Immersion Technologies.
SharpLink significantly expanded its Ether holdings in the past week, culminating on Sunday. A noteworthy acquisition of 79,949 ETH was ETH announced on Tuesday, marking a record for the company.
This significant purchase was executed at an average price of $3,238 per ETH, representing a total investment of approximately $258.9 million.
This recent investment follows another substantial buy valued at $49 million, disclosed last Monday. Consequently, SharpLink now possesses a total of 360,807 ETH, estimated to be worth around $1.3 billion based on current market valuations, according to CoinGecko.
Ethereum Accumulation Race Intensifies
With this recent strategic acquisition, SharpLink has once again secured its leading position as the largest publicly listed entity holding ETH, reclaiming the title after a temporary dip below BitMine.
Following the announcement of a $250 million private funding round on June 30th, BitMine revealed last Thursday that its Ethereum holdings had reached 300,657 ETH, surpassing a value of $1 billion.
After reporting their 300,657 ETH acquisition, BitMine momentarily surpassed SharpLink in total ETH holdings, as SharpLink had previously announced holdings of 280,706 Ether last week.
At the time of this report, CoinGecko’s updated figures for public companies ranked by Ethereum holdings don’t yet include SharpLink’s most recent acquisition.
This is a developing story. Stay tuned for updates as more details emerge.
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