SharpLink Gaming stock rallies 7% after $30M Ethereum buy

SharpLink Gaming has seen its share price jump over 7% after the firm boosted its Ethereum holdings to 188,000 Ether.

Shares in the sports betting company SharpLink Gaming closed Tuesday trading at a 7% gain after the firm boosted its Ether holdings by another $30 million.

SharpLink said on Tuesday that it purchased 12,207 Ether (ETH) at an average price of $2,513 each during the week ended Friday, June 20 and now holds over 188,000 ETH worth $457.4 million.

SharpLink said it sold 2.54 million shares to raise $27.7 million, with the majority of the proceeds being used to bolster its ETH investment.

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