The ‘MicroStrategy’ Of Ethereum Emerges: Tom Lee And Joe Lubin Raise $675M To Stack ETH
Tom Lee and Joe Lubin are advancing their Ethereum treasury strategies, aiming to create the 'MicroStrategy' of Ethereum. BitMine, chaired by Lee, announced a $250 million private placement to acquire ETH as its primary reserve asset, targeting completion by July 3. SharpLink Gaming, chaired by Lubin, has already established itself as the largest publicly traded Ethereum holder with a total of 198,167 ETH valued at $475 million. SharpLink recently acquired 9,468 ETH for $22.8 million and raised $24.4 million through an ATM facility for further acquisitions. Both companies are exploring staking and DeFi strategies to enhance their ETH holdings. Lubin suggested potential leverage options for SharpLink's strategy, similar to MicroStrategy's approach. Ethereum is currently trading at approximately $2,444.
