SharpLink Gaming has significantly expanded its cryptocurrency treasury by adding $264.5 million worth of Ethereum, acquiring 83,561 ETH between July 28 and August 3. This move boosts the company's total Ethereum holdings to 521,939 ETH, valued at nearly $1.9 billion. Following this acquisition, the average price per ETH stood at $3,634. SharpLink's stock has shown remarkable growth, increasing over 420% since late May. The company's pivot from marketing to accumulating Ethereum comes after raising $425 million in May, marking its commitment to enhancing its crypto treasury. Despite the current Ethereum prices hovering around $3,631—about 34% below its all-time high of $4,878—the asset has experienced a 44% rise over the past month as U.S. investors actively engaged with Ethereum exchange-traded funds. Other companies are also following suit, accumulating cryptocurrencies in their treasuries, reminiscent of strategies adopted by firms like MicroStrategy in the Bitcoin market.

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