SharpLink Gaming increased the position in Ether by 22.8 million USD, with total holdings of 200,000 ETH. Did the stock SBET rebound?

The US-listed company SharpLink Gaming, known as "Ethereum MicroStrategy", announced last night through the X platform that the company acquired approximately 9,468 ETH at an average price of about $2,411 per ETH, totaling around $22.8 million, between June 23 and June 30. After this increase in position, its total Ethereum holdings rose to 198,167 coins. (Previous context: SharpLink Gaming spent $460 million to buy 176,000 ETH, but its stock price plummeted nearly 70%) (Background: Ethereum MicroStrategy) SharpLink Gaming plans to raise $425 million to buy ETH, with its stock price soaring 800% in a single day.) The US-listed company SharpLink Gaming, known as "Ethereum MicroStrategy", announced last night through the X platform that the company acquired approximately 9,468 ETH at an average price of about $2,411 per ETH, totaling around $22.8 million, between June 23 and June 30. After this increase in position, its total Ethereum holdings rose to 198,167 coins. NEW: At SharpLink, we have increased our total ETH holdings to 198,167 Between June 23rd and June 30th, we've acquired ~9,468 ETH for ~$22.8M at an average price of ~$2,411 per ETH During that same period, we've raised an additional ~$24.4M through our At-The-Market (ATM)… — SharpLink Gaming (@SharpLinkGaming) July 1, 2025 An additional fundraising of $24.4 million, ETH has been fully staked. Additionally, the company also stated that at the same time, they raised approximately $24.4 million through the ATM financing mechanism, selling about 2.5 million shares, and most of the funds will be used for further acquisition of ETH. SharpLink pointed out that as of June 30, all ETH held by SharpLink has been staked, and since the strategy began on June 2, approximately 222 ETH in staking rewards have been earned. In response, SharpLink's chairman and Ethereum co-founder Joseph Lubin stated, "We are entering a new era where digital assets like Ethereum are no longer speculative tools but are rapidly becoming strategic currencies in the modern digital economy. By incorporating Ethereum into the core of our capital strategy, what we are doing is not only optimizing SharpLink's balance sheet but also positioning the company as a global leader in digital commerce development." Additionally, SharpLink also announced that it has hired leading financial communications and capital markets advisory firm Elevate IR as its official investor relations agency. As part of this collaboration, Elevate IR will work closely with SharpLink's management to develop and implement a comprehensive investor relations and communication strategy to adapt to the company's evolving priorities. SharpLink Gaming's CEO Rob Phythian stated, "Ethereum is not just a financial asset; it is the financial foundation of the next generation of capital management and online gaming infrastructure that we firmly believe in. To support our accelerated growth, we are committed to partnering with experienced partners like Elevate IR to ensure that our story, strategy, and shareholder value proposition are clearly communicated to all stakeholders." SharpLink's stock price has yet to rebound. However, according to Google Finance data, SharpLink's stock price (SBET) has not yet emerged from the shadow of previous declines, reporting at $9.69 at the time of writing, with a market capitalization of about $615 million, and a decline of 2.57% during the evening trading on July 1. Related reports: SharpLink Chairman Joe Lubin urges a full Ethereum: the company is ready to leverage! SharpLink spends another $30 million to increase its ETH holdings, securing its position as the Ethereum leader among listed companies. An overview of 44 listed companies' crypto layouts: Who is using Bitcoin as a market capitalization engine? <SharpLink Gaming spends $22.8 million to increase its Ethereum holdings to 200,000 ETH; has the stock SBET rebounded?> This article was first published in BlockTempo, the most influential blockchain news media.