• SharpLink Gaming acquired 12,207 ETH for $30.67M, boosting its treasury to 188,478 ETH.

  • Stock rose 7% to $9.66 after the Ethereum purchase announcement.

  • All ETH holdings are staked, yielding 120 ETH since June 2, 2025.

  • SharpLink raised $27.7M via share sales to fund the acquisition.

  • The company is the largest publicly traded Ethereum holder globally.

SharpLink Bolsters Ethereum Treasury with $30M Investment

SharpLink Gaming, a Nasdaq-listed company, acquired 12,207 Ethereum (ETH) for $30.67 million between June 16 and June 20, 2025, at an average price of $2,513 per token. This purchase increased its total holdings to 188,478 ETH, valued at approximately $457.4 million. The company’s stock surged 7% to $9.66 on June 24, reflecting strong investor confidence in its crypto-focused strategy. SharpLink now stands as the largest publicly traded Ethereum holder globally, trailing only the Ethereum Foundation, which holds 213,072 ETH.

The acquisition aligns with SharpLink’s pivot to treat Ethereum as its primary treasury reserve asset. The company raised $27.7 million by selling 2.54 million shares through an at-the-market offering to fund the purchase. This follows a $425 million fundraising round in May 2025, led by Consensys, to support its Ethereum treasury strategy. SharpLink’s board chairman, Joseph Lubin, emphasized the firm’s commitment to digital assets, stating, “Our increased Ethereum holdings aim to deliver sustained value for shareholders through innovative technologies.”

Staking Strategy Enhances Ethereum Holdings

SharpLink has staked 100% of its Ethereum holdings, generating 120 ETH in rewards since launching its crypto strategy on June 2, 2025. This staking approach supports Ethereum’s network security while yielding passive income. The company reported a 19% growth in ETH per share, showcasing its focus on maximizing shareholder value through blockchain integration. Unlike traditional treasury models, SharpLink actively deploys its ETH to capitalize on Ethereum’s proof-of-stake model.

The firm’s strategy mirrors MicroStrategy’s Bitcoin-focused approach but centers on Ethereum, positioning SharpLink as a pioneer among Nasdaq-listed companies. Despite a 24% revenue decline in the year to March 2025, the company’s shift to crypto has transformed its market perception. SharpLink’s stock, however, remains 87% below its May peak of $79.21, reflecting volatility in its transition to a crypto-centric model. The recent Ethereum purchase underscores growing institutional interest in digital assets, driven by Ethereum’s role in DeFi and smart contracts.

SharpLink’s move comes amid a broader market rally, with Ethereum trading at $2,448 on June 25, up 6.57% in 24 hours. Over 35 million ETH are currently staked, representing 28% of the total supply, signaling strong institutional confidence. 

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