SharpLink Gaming bought 5,188 ETH worth $15 million dollars adding to its growing digital asset treasury this week.
The company now holds 285,894 ETH making it the largest public firm with the highest Ethereum reserves in the world.
SharpLink stock surged 19% after its latest ETH purchase showing a strong reaction from investors this week.
SharpLink Gaming has continued its Ethereum buying streak with a new $15 million purchase. The transaction added 5,188 ETH to its holdings. The acquisition followed a series of large Ethereum purchases earlier this week.
On Monday, the company acquired 24,371 ETH for approximately $73 million. Just days before, SharpLink had added 21,487 ETH on July 11 and 16,374 ETH on July 13.
https://twitter.com/Cointelegraph/status/1945294951937397018
The ETH for all these transactions was transferred from a Coinbase Prime wallet. This platform is commonly used by institutional investors to secure digital assets. Within one week, SharpLink has spent around $199.4 million on Ethereum in four separate transactions.
SharpLink Stock Sees Uplift Amid Crypto Buys
Following the latest purchase, SBET stock jumped 19%, continuing an upward trend seen earlier this week. The company's recent crypto activity appears to be influencing market perception. As of now, SharpLink Gaming holds roughly 285,894 ETH. Based on current market prices, that total is valued at about $871 million.
Of that total, around 74,464 ETH has been staked. This allows the company to earn passive income through the Ethereum network. The staking rewards have reached 415 ETH since early June, including 94 ETH generated between July 7 and July 11.
Treasury Strategy Backed by Fresh Capital
SharpLink raised $413 million through its At-The-Market offering to support its ETH purchases. The company spent a portion of that to buy 74,656 ETH at an average price of $2,852. About $257 million remains available for future Ethereum acquisitions. This treasury move indicates a calculated strategy rather than isolated buys.
To monitor its ETH allocation, SharpLink introduced a new "ETH Concentration" metric. This figure grew by 23% within a month, suggesting increased focus on digital asset exposure.
Positioning in Crypto and Online Gaming Markets
With 285,894 ETH, SharpLink is now the largest public corporate holder of Ethereum. The company’s blockchain strategy reflects a wider push into decentralized technology. SharpLink is using smart contracts and Web3 tools to transform sports betting and iGaming operations. It aims to offer scalable and secure platforms that support transparency.
Ethereum currently trades at $3,142, up 5.51% from the previous day’s low of $2,983. Market value increased by 2.89% to $378 billion. The daily trading volume also rose marginally to $35 billion, showing sustained activity from both institutional and retail investors. The ETH-focused treasury approach implemented by SharpLink remains dynamic against stable crypto market conditions.
