SharpLink, a company with a strong focus on Ethereum, has been actively accumulating ETH, with recent reports indicating a significant increase in their holdings. According to a statement released on August 26, SharpLink acquired 56,533 ETH at an average cost of $4,462, using funds raised through its at-the-market issuance program. This brought their total ETH holdings to 797,704, valued at nearly $3.7 billion. SharpLink now stands as the second-largest corporate holder of Ethereum, behind only BitMine.
Since launching their treasury initiative in June, SharpLink has earned 1,799 ETH in staking rewards and holds approximately $200 million in cash for future acquisitions. Co-CEO Joseph Chalom expressed the company’s commitment to its Ethereum-focused vision, emphasizing their dedication to building shareholder value and supporting the growth of the network.
Following this news, SharpLink shares saw a 3.31% increase, reaching around $20 as per Google Finance data. The company has also filed with the SEC to register 3 million additional shares tied to its inducement award plan. This plan, authorized by the board on August 19, allows SharpLink to issue stock to new or rehired employees as part of their compensation package.
The inducement plan is designed to attract and retain skilled workers by offering stock incentives, aligning employee rewards with long-term shareholder value. Eligible awards may include restricted shares, stock units, or options, and are granted when hiring to incentivize individuals to join SharpLink. The administration of the plan will be overseen by the compensation committee or other independent board members.
In conclusion, SharpLink’s aggressive accumulation of ETH, coupled with their inducement award plan, demonstrates their strategic approach to growing their business while attracting top talent. As they continue to expand their Ethereum holdings and invest in their workforce, SharpLink positions itself for long-term success in the evolving landscape of cryptocurrency and blockchain technology.