SharpLink Gaming Stock Soars Over 500% This Week On Ethereum Treasury Move
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SharpLink Gaming Inc's stock surged 569% this week, with a 51.8% increase to $44.28 on Thursday, following the announcement of a $425 million private placement to adopt Ethereum as its primary treasury reserve asset. The company will issue approximately 69 million shares at $6.15 each to prominent crypto investors, including Consensys and Pantera Capital. CEO Rob Phythian described the move as a significant milestone, while Consensys CEO Joseph Lubin emphasized its potential for Ethereum adoption in public markets. The deal is expected to close by May 29 and will fund ETH purchases and corporate needs.
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