Sharp Link in the US expands its Ethereum Holdings to 520,000 ETH

## ETH Treasury Competition

The Nasdaq-listed affiliate marketing and gaming software company "SharpLink Gaming" announced on August 5 that it purchased 83,561 ETH during the period from July 28 to August 3. The purchase amount was approximately $307 million, with an average price of $3,634 per ETH.

The company's total ETH holdings reached 521,939 ETH as of August 3, with a market capitalization of $1.9 billion. This is a 19% increase from 438,190 ETH the previous week, and it has been steadily expanding since the start of the treasury strategy on June 2.

According to SER data, SharpLink is currently ranked 2nd among 66 ETH treasury companies. The 1st place is Bitmain, holding 833,137 ETH, while the 3rd place is EtherMachine, which has 345,362 ETH.

SharpLink conducted a net fundraising of 264.5 million dollars through the ATM (at-the-market offering) system during the week from July 28 to August 1. The raised funds are utilized for ETH purchasing and contribute to accelerating the treasury strategy.

In addition, Sharp Link has staked 100% of the held ETH and has earned 929 ETH in staking rewards since the strategy began on June 2.

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