SharpLink Gaming has increased its Ether treasury to 859,853 ETH, valued at $3.5 billion, after a $76.5 million capital raise. The company acquired 19,271 ETH at $3,892 each and earned 5,671 ETH in staking rewards, worth $23.25 million at current prices. Staking enables yield generation on Ethereum’s proof-of-stake network.

SharpLink became the first publicly traded company to adopt an ETH treasury strategy, leading to a 450% surge in stock price. Bitmine Immersion Technologies holds the largest Ethereum treasury, with 3.24 million tokens valued at over $13 billion. Bitmine aims to own 5% of all ETH in circulation.

ETH price has dropped around 14% in the past 14 days, prompting companies like Bitmine to take advantage of buying opportunities. Ether Machine, the third-largest Ethereum treasury company, offers a yield-bearing Ether fund targeting institutional investors. A total of 69 Ethereum treasury companies hold 5.74 million ETH.

Owning ETH and other proof-of-stake assets allows staking for yield, generating passive income through network transaction validation. The current price dislocation in ETH represents an attractive risk/reward opportunity for treasury companies. ETH prices have declined around 9.6% in the past month, creating opportunities for companies to increase their holdings.

Read more at Cointelegraph: SharpLink adds 19K ETH as corporate treasuries buy the dip