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Elereum Investor Sharplink Raises $76.5m Market Premium – Next Top Buy?

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One of the largest Elerres (ethy) companies, Sharplink Gaming, today announced that it has raised $ 76.5 million in Direct Stock offering at a price above the market. Part of the proceeds may be used to buy eth.

Sharplink raises $76.5 million to buy more Edereerum

According to an announcement made earlier today, Sharplink Gaming has entered into a securities purchase agreement with an undisclosed institutional investor for the purchase and sale of 4.5 million shares of its common stock.

Notably, the Minneapolis-based company said it had sold shares at $17 per share prior to $15.50 written on a net asset value (NAV) of 840,124 current asset holdings.

The offering is expected to close on October 17, subject to the satisfaction of customary closing conditions. Commenting on the development, Joseph Chalom, Co-PEO of Sharplink said:

This is a novel commercial transaction for shareholders and systematic owners, reflecting the firm’s institutional confidence in Sharplink and its long-term vision. By raising equity at a reasonable premium to both market price and NAV, we are able to continue to accumulate eth and increase eth-par-pare for our investors.

He added that the adoption of Elerreeum continues to grow among both retail and institutional investors, across various verticals such as stablecoins, decentralized finance (desi), and local assets.

Following today’s announcement, Sharplink shares are slightly lower, trading at $15.07 at the time of writing. However, the shares are up an impressive 445% in the past six months, driven largely by the increase in EHL’s price.

Yahoo!
Source: Yahoo! Support with money

As mentioned earlier, Sharplink is currently ranked second among publicly traded firms in terms of the number of ESTIALS holdings in its assets. Bitmine technology it continues Leading the pack, with more than three million on their rated page, according to data from CoingeCho.

CoingeCho
Source: CoingeCho

Is Crypto Treasure still playing?

The practice of companies developing Crypto Treasury strategies has become very popular in the last few years. It picked up speed following the victory of Pro-Crypto Donald Trump in the November 2024 US Election.

This trend is not limited to leading digital assets such as Bitcoin (BTC), although companies are also exploring Crypto Treasury strategies that focus on some Altcoins towards other Altos Solana (sol), Avalanche (avax)again Dogecoin (Doge).

That said, some warning signs have investors questioning the benefits of the Treasury’s crypto-focused corporate finance strategy. For example, recently, Metaplanet’s rating clay Below is the total BTC price it holds on its valuation page.

Similarly, the strategy of Michael Saylor – the largest publicly traded company in the world by the amount of BTC held – also showed Bad performance A few months ago. In the interim period, it is trading at $3,921, down 1.7% in the last 24 hours.

incense
Edereum Trades at $3,921 on Daily Chart | Source: Ethisdt on TradingView.Com

Featured image from UNSEXPSASH.com, charts from Yahoo! Finance, CoingeCo, and

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