Publicly traded company SharpLink has now become the leading corporate holder of Ethereum (ETH)
SharpLink has confirmed that it is now the largest corporate holder of Ethereum.
The publicly traded company ended up at the top after buying an additional $213 million worth of ETH.
The company's total holdings now stand at 280,706 ETH ($836.2 million worth of ETH).
Notably, a whopping 99.7% of the company's ETH is staked. These tokens have already generated $51.82 million worth of ETH in revenue.
SharpLink, which used to operate as a sportsbook marketing company, announced the adoption of Ethereum as its treasury reserve asset in May. The implementation of the strategy started with raising $425 million with the help of Ethereum developer Consensys.
As reported by U.Today, Lubin previously stated that SharpLink would keep accumulating more ETH, drawing parallels between the upstart company and Michael Saylor's Strategy.
Vladislav Sopov
U.Today Editorial Team