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As corporate bitcoin treasury strategies proliferate, one firm is set to focus on buying ether at scale. 

We all know about Strategy’s relentless bitcoin purchases (it bought another 4,020 BTC last week) and how more companies are following its lead. 

Well, SharpLink Gaming revealed Tuesday that it intends to use the proceeds of a $425 million private placement to buy ETH. Ethereum co-founder Joseph Lubin is set to become SharpLink’s board chair. 

Shares of the Nasdaq-listed company were up roughly 400% on the day at 2 p.m. ET. 

“ETH is a scarce asset that has bouts of…

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