Gaming Sharplink (Sbet)The digital cash company listed at the Nasdaq led by the co-founder of Ethereum Joe Lubin, added 56,533 ether (Eth) When last week was taken up, raising its total assets to almost 800,000 ETH worth around $ 3.6 billion.
Purchases, made between August 18 and August 24, reached an average of $ 4,462 per ETH, according to a press release on Tuesday. Sharplink also said that stimulation awards had reached 1,799 ETH since the company launched its cash strategy in June.
The company based in Minneapolis also revealed in the update that it raised $ 360.9 million in net product last week thanks to its market (ATM) Action program program. There are about $ 200 million in cash still available for other ETH acquisitions, said the firm.
Sbet increased by 1.1% in the first minutes of the session.
Treasure companies are being purchased, increasing 2.6% of the asset supply in recent months, according to a standard approved report and pushing the price of ETH to a new record. Bitmine immersion technologies (BMNR)led by Tom Lee de Fundstratt, directs the pack by accumulation Almost 1.7 million ETH, followed by 800,000 Sharplink chips.
In addition to the recent decline in cryptography prices, Treasury’s actions of digital assets have also decreased. Last week, SharpLink approved a $ 1.5 billion share buy-back program in the event that the action falls on or below the value of the underlying assets.
Geoff Kendrick, Research Manager at Global Bank Standard Charterd, said that cash and ETH cash companies are undervalued as a result of the sale, reiterating an end-of-year course of $ 7,500 for ETH.
Read more: Ether and Eth Treasury companies seem undervalued after diving: Standard Charted
