SharpLink Gaming has acquired 176,271 Ether for $463 million, making it the world's largest publicly traded holder of ETH. The acquisition was funded through a combination of private placement and at-the-market equity sales, with an average price of $2,626 per coin. Over 95% of SharpLink's ETH is now deployed in earning yield and contributing to Ethereum's network security. CEO Rob Phythian noted the significance of this move, treating ETH as the company's primary treasury reserve asset. This strategy mirrors MicroStrategy's Bitcoin approach but focuses on Ethereum. However, the announcement faced controversy as the company's stock price dropped following an SEC filing regarding potential resale of shares. Despite this, SharpLink remains committed to its ETH strategy, aiming to enhance institutional adoption of Ethereum and contribute to its long-term security.

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