Data: SharpLink Gaming rose over 630% today, increasing more than 17 times in three days

ChainCatcher news, the US-listed company SharpLink Gaming has surged over 630% today, currently priced at $48, up from just $2.79 three trading days ago, an increase of more than 17.2 times in three days.

ChainCatcher previously reported, according to GlobenewsWire, sports betting operator SharpLink Gaming, Inc. (NASDAQ: SBET) announced today that it has signed a securities purchase agreement for a $425 million private investment in public equity (PIPE), planning to issue approximately 69.1 million shares of common stock (or equivalent securities) at a price of $6.15 per share (with company management team members at $6.72 per share).

SharpLink plans to use the raised funds to purchase Ethereum as the company's primary treasury reserve asset. After the transaction is completed, Ethereum co-founder and Consensys founder and CEO Joseph Lubin will serve as the chairman of SharpLink's board and will assist the company in developing its core business as a strategic advisor.