SharpLink Gaming Stock Soars on Ethereum Reserve Strategy Announcement

SharpLink Gaming’s stock price surged by 18.66% in pre-market trading, reaching $94.02 after the company unveiled a strategic plan to enhance its Ethereum reserves. This move comes following an announcement detailing plans for a fundraising effort of $425 million to significantly boost their holdings of Ethereum. The initiative is being spearheaded by Consensys Software Inc., with participation from prominent crypto-focused venture capital firms including ParaFi Capital, Electric Capital, Pantera Capital, and Galaxy Digital. This transaction is projected to close on May 29th.