SharpLink adds 56,533 ETH in a week, topping $3.6B in Ethereum reserves

The cash Sharplink cash flow company continues to accelerate its ETH purchases, accumulating a treasure of $ 3 billion.

Sharplink continues to aggressively accumulate Ethereum (Eth). On Tuesday August 26, Sharplink announced a update For the week ending on August 24. During the week, the company raised $ 360.9 million in net product thanks to its sales of actions to the brand. The company also acquired 56,533 ETH during this period, at an average purchase price of $ 4,462.

In addition, at the end of the week, the company’s ETH holdings increased to 797,704, currently estimated at around $ 3.6 billion. Thanks to these reservations, the company has accumulated 1,799 ETH to establish rewards since it started to accumulate Ethereum on June 2.

For the moment, Sharplink seems to continue his aggressive accumulation of the treasure. The company is planning more Ethereum purchases and currently has around $ 200 million in cash reserves for this purpose.

Sharplink automatic counters are threatening to dilute the actions

So far, Sharplink has funded his ETH treasure by offering the company’s actions through an installation at the market. Although the operation has enabled the company to raise significant capital, it also flooded the market with its shares.

Since the July summit at $ 37.38, the Sharplink’s share price has almost halved and its actions are currently negotiated to $ 19.83. For this reason, the company recently announced a decision to support the course of action with redemptions.

Namely, on August 22, the company revealed that its board of directors approved Allocating up to $ 1.5 billion in a share buy -back program. This program will come into force if the action begins to be negotiated below the value of the net assets of its ETH assets, to realign it with fundamentals.