SharpLink Gaming Inc. said it bought 56,533 Ether last week for roughly $252 million, paying an average of $4,462 per token. The Minneapolis-based online-gaming company disclosed the transaction in an Aug. 26 filing, calling the purchase part of its ongoing strategy to hold Ether as its primary treasury asset. The latest acquisition lifts SharpLink’s reserve to 797,704 ETH, valued at about $3.7 billion at current market prices. The company now ranks as the world’s second-largest corporate holder of Ether, behind BitMine, and has generated 1,799 ETH in staking rewards since launching the program in June. SharpLink funded the purchase with $360.9 million of net proceeds raised through an at-the-market share-issuance program during the week ended Aug. 22. It still holds roughly $200 million in cash earmarked for additional Ether buys. Earlier this month the board also authorized a $1.5 billion share-repurchase plan. “Our regimented execution of SharpLink’s ETH treasury strategy continues to demonstrate the strength of our vision,” Co-Chief Executive Officer Joseph Chalom said in the statement. The shares rose about 3.3% to $20 following the announcement.