Latest news with #Ethereum-focused
Business Insider
03-08-2025
- Business
- Business Insider
COIN, BMNR, RBLX: Cathie Wood Buys Over $54M of Crypto Stocks, Dumps Roblox Stake
's ARK Invest ETFs (exchange-traded funds) made aggressive moves in the crypto space on August 1, snapping up more than $54 million worth of shares in Coinbase (COIN) and Ethereum-focused company, Bitmine Immersion Technologies (BMNR). Meanwhile, Wood trimmed her positions in online gaming platform Roblox (RBLX) and biotech firm Adaptive Biotechnologies (ADPT). Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Wood Doubles Down on Crypto Stocks The biggest buy of the day was Coinbase, with ARK scooping up 94,678 shares worth $35.8 million across its ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF) funds. ARK also continued building its stake in Bitmine Immersion Technologies, purchasing 540,712 shares worth approximately $18.73 million. Like Coinbase, this investment was spread across ARKK, ARKW, and ARKF. The fund has been actively increasing its Ethereum holdings, which now exceed $2 billion, and has plans to acquire and stake up to 5% of Ethereum's total supply. BMNR stock has soared over 300% year-to-date, but Wood continues to buy aggressively on every pullback, showing strong conviction despite the sharp rally. Notably, the stock was down over 8% yesterday. Beyond crypto, ARK added 342,933 shares of Roku (ROKU) worth $32.29 million, and 162,211 shares of Illumina (ILMN) for $17.28 million. ARK Trims Stakes in RBLX and ADPT On the sell side, Wood sold a considerable portion of Roblox, offloading 353,530 shares for a total of $48.71 million. ARK Invest also trimmed its position in Adaptive Biotechnologies, selling 39,393 shares for $403,384. This follows a multi-week pattern of steady selling in the stock, reflecting either valuation concerns or a shift in ARK's genomics strategy. Let's take a brief look at how all these stocks perform on .
Yahoo
28-07-2025
- Business
- Yahoo
Bitcoin Depot Rides on Kiosk Expansion: Bullish on Bitcoin Potential?
Bitcoin Depot Inc. BTM revenues have been growing in the past couple of years, primarily driven by BTM Kiosks, which accounted for roughly 99.7% of its total revenues in the first quarter of of March 31, 2025, Bitcoin Depot had 8,463 BTM Kiosks installed across the United States, Canada and Puerto Rico, with a median kiosk transaction size of $300. Further, in June 2025, the company acquired the assets of Pelicoin, LLC, to strengthen its presence in the Gulf South region of the United States. The transaction will expand kiosk locations across Louisiana, Mississippi, Tennessee, Alabama and Bitcoin Depot purchased additional Bitcoin under its treasury strategy, holding more than 100 Bitcoins in its treasury. This reinforces its confidence in Bitcoin's long-term potential as both a strategic asset and a store of year, the company entered into seven franchise profit-sharing arrangements, under which counterparties will earn a share in profits generated by a particular group of kiosks. Also, it secured a deal with CEFCO for 72 out of their more than 200 locations to diversify within the convenience store industry. The company also signed a master placement agreement with EG America LLC to install BTM kiosks in more than 900 Bitcoin Depot aims to capitalize on existing partnerships and new ones to expand its BTM Kiosks to drive higher transaction volumes, which, in turn, will boost revenues. What are BTM's Peers Doing? Bitcoin Depot's close peers like Coinbase Global Inc. COIN and BTCS, Inc. BTCS have been capitalizing on cryptocurrency tailwinds. While Coinbase has been emphasizing stablecoins and staking services, BTCS focuses on an Ethereum-focused recent wave of deregulation in crypto policies is expected to favor companies like Bitcoin Depot, Coinbase and BTCS by reducing compliance burdens and opening up new revenue opportunities. Bitcoin Depot's Price Performance, Valuation and Estimates Bitcoin Depot shares have soared 228.4% this year, significantly outperforming the S&P 500's gain of 8.3%. Image Source: Zacks Investment Research From a valuation standpoint, BTM trades at a 12-month forward price-to-earnings ratio (P/E F12M) of 10.98X, below the industry average. Image Source: Zacks Investment Research The Zacks Consensus Estimate for Bitcoin Depot's 2025 earnings implies a surge of 176.7% on a year-over-year basis, while 2026 earnings are expected to grow at a rate of 10.3%. In the past week, earnings estimates for 2025 and 2026 have remained unchanged. Image Source: Zacks Investment Research BTM currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bitcoin Depot Inc. (BTM) : Free Stock Analysis Report Coinbase Global, Inc. (COIN) : Free Stock Analysis Report BTCS Inc. (BTCS) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
25-07-2025
- Business
- Yahoo
Ether-Focused SharpLink Appoints Former BlackRock Executive as Co-CEO
SharpLink Gaming (SBET), the Nasdaq-listed crypto treasury firm that has recently emerged as one of the largest corporate holders of ether (ETH), said on Friday it has appointed former BlackRock executive Joseph Chalom as co-CEO of the firm. Chalom, who spent two decades at BlackRock in different roles, spearheaded the asset management giant's foray into digital assets and blockchain initiatives including launching the a spot ETH ETF, the press release said. He also was a board member at tokenization firm Securitize, which issues the largest tokenized U.S. Treasury fund with BlackRock. "Few executives in the world have had the kind of impact Joseph has had in unlocking institutional adoption of digital assets, having pioneered BlackRock's strategic entry into the space," Joseph Lubin, chairman of SharpLink, said in a statement. SharpLink CEO Robert Pythian will transition to president over the next quarter and remain on the board. SharpLink pivoted in May to a crypto treasury strategy focusing on Ethereum in May under the leadership of Lubin, who is the co-founder of Ethereum and CEO of Ethereum-focused development firm ConsenSys. Since then, the firm emerged as one of the most aggressive ETH buyers acquiring over $1.3 billion worth of tokens. SBET shares are lower by 3% early Friday and down 30% over the past five in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Scoop
19-07-2025
- Business
- Scoop
GameSquare Buys $5M Ethereum For Treasury Strategy
DALLAS, Texas – [July 14, 2025] – GameSquare Holdings, Inc. (NASDAQ: GAME), a next-generation media, entertainment, and technology company, recently announced that it has completed a $5 million purchase of Ethereum (ETH) as part of its recently unveiled $100 million digital asset treasury strategy. The initiative reflects the company's broader push to integrate blockchain technology into its core business and treasury operations, positioning itself at the forefront of Web3 innovation within the digital media landscape. GameSquare made the acquisition as the first step in what it calls a 'strategic and intentional allocation' of corporate reserves toward digital assets, including Ethereum. The ETH purchase was facilitated in collaboration with Dialectic, a global leader in crypto-native capital management and one of the firm's key strategic partners. Dialectic is set to provide advisory and infrastructure support as GameSquare transitions portions of its treasury management from traditional assets to crypto-backed reserves. 'This $5 million Ethereum purchase isn't just a one-off investment,' said Justin Kenna, CEO of GameSquare. 'It's the beginning of a long-term strategy to explore decentralized financial infrastructure while expanding shareholder value through forward-looking treasury diversification.' The move comes amid growing interest from public companies in holding digital assets on their balance sheets as a hedge against currency debasement and as a bet on the expanding utility of decentralized technologies. GameSquare's initiative is especially noteworthy given its position as a crossover brand at the intersection of gaming, media, sports, and entertainment — sectors already seeing massive disruption and innovation from blockchain applications. GameSquare's ETH acquisition aligns with a larger $100 million capital allocation framework that will be deployed over several quarters. The company aims to incrementally acquire ETH and other digital assets while actively integrating blockchain-based services across its platforms. According to company officials, the strategy will also enable GameSquare to test Web3 tools like tokenized loyalty systems, digital identity management, and smart contract automation in live environments. 'Our audience is natively digital, and we're building for a future where ownership and experience go hand in hand,' said Kenna. 'Ethereum provides the infrastructure to support this vision.' The announcement follows closely on the heels of GameSquare's $8 million underwritten public offering, the proceeds of which are expected to fund the Ethereum-focused treasury shift. Investors responded positively to the treasury update, viewing the move as a bold bet on long-term growth and technological relevance. Dialectic, GameSquare's strategic partner in this initiative, is known for guiding institutions through the complexities of Web3 exposure. Their role in helping GameSquare develop and execute the treasury playbook will likely reduce operational friction and enhance security, two key concerns for public companies entering the digital asset space. The partnership is also expected to include ongoing oversight, dynamic rebalancing of crypto assets, and implementation of risk mitigation protocols — including cold storage and multi-signature authorization models — to meet the compliance standards of a publicly traded entity. GameSquare's leadership emphasized that the strategy will be evaluated continuously based on market conditions, technological progress, and shareholder interests. While ETH is the initial focus, the company has not ruled out diversification into other blockchain assets, NFTs, or decentralized finance instruments. As more companies seek relevance in a digital-first world, GameSquare's Ethereum treasury strategy may signal a wider shift in how media companies manage and leverage corporate capital.
Yahoo
16-07-2025
- Business
- Yahoo
BTCS Joins Russell Microcap Index as Ether Treasury Firms Continue to Post Big Gains
Nasdaq-listed Blockchain Technology Consensus Solutions (BTCS) is joining the Russell Microcap Index, giving the Ethereum-focused firm greater exposure among investors who track the benchmark for smaller U.S. companies. The Maryland-based firm announced earlier this month a $100 million funding plan to acquire more ETH for its balance sheet. The firm says it runs blockchain operations like staking and block building, with a tilt toward the Ethereum ecosystem. It also develops tools such as ChainQ, an analytics platform designed to help users sift through blockchain data. Index inclusion means BTCS could appear in portfolios run by mutual funds and institutional managers who follow the Russell indexes, which are used to build funds and benchmark performance. That might translate into increased trading volume or new shareholders. BTCS shares are up more than 22% in pre-market trading, and over 100% in the past month. Several companies have over the last few weeks turned to an ether treasury reserve. In doing so, their share prices have surged, with GameSquare (GAME) being the latest example. The firm announced it scheduled a conference call to review its $100 million ether treasury strategy. Its shares are up 45% in pre-market trading, seemingly based on that announcement. SharpLink Gaming (SBET), the largest corporate holder of ETH after surpassing the Ethereum Foundation, is similarly up 16.6% in pre-market trading after rising 21.3% in yesterday's trading session. In the past 30 days it's up 122%. Ether itself is up around 20% over the past month as corporate adoption grows. Year-to-date, it's still down 5%. Bitcoin, in comparison, is up more than 25.7% so far this year. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
