Shares in Sharplink Gaming’s bookmaking company closed trade on Tuesday with a 7% profit after the company increased its ether shares by another $ 30 million.

Sharplink he said On Tuesday, he bought 12,207 ether (ETH) at an average price of USD 2,513 per week ended on Friday, June 20, and now has over 188,000 ETH with a value of USD 457.4 million.

Sharplink said that he sold $ 2.54 million to collect USD 27.7 million, with most of the revenues used to strengthen the ETH investment.

He added that from Friday he set up all his ETH farms, which generated 120 ETH, worth $ 293,000.

Chairman of the board of Sharplink, Joseph Lubin, co -founder of Ethereum, said that increasing the company’s ETH farm would cause “long -term value for our shareholders.”

In May, Sharplink raised $ 425 million on his plan to buy ETH and appointed Lubin to preside to the board.

On June 13, Sharplink purchased ETH worth USD 463 million, which meant that the company listed on the stock exchange with the largest ETH farm.

Raise in stock prices

Sharplink (SBET) shares accumulated over 7% by the end of Tuesday’s trading session to USD 9.66. The shares also gained 1.14% after the bell and ended the session after 9.77 USD, According to to Google Finance.

Despite the last rally, Sharplink shares fell by more than 87% after reaching USD 79.21 on May 29.

Related: Gaming Sharplink will fall by 73% among the upcoming USD 1 billion Ethereum buy

In the quarter of March 2025, the company reported a decrease in net revenues by 24% year on year, while net profit margin dropped by 110% in the same period.

Institutions gathering to ETH

In recent weeks, institutional demand for ETH has been growing.

On Monday, immense ether owners initiated long positions on cryptocurrency despite the variability of the market from the Israel-Iran war. A single whale initiated a position with a length of $ 101 million with a 25 -fold lever.

Another whale has accumulated ETH worth $ 39 million on Sunday, and their ETH is currently persistent by exceeding $ 300 million.

Last week, it was reported that over 35 million ether tokens were erected, which is over 28% of the total supply of ETH blocked in knowledgeable contracts to earn prizes.

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