SharpLink Gaming (NASDAQ: SBET), a company originally focused on sports marketing, has purchased 143,593 ETH during the week of August 10 to 17. This increased its total Ethereum treasury to 740,760 ETH, representing more than $3 billion in market value.
How it financed these purchases
To finance these acquisitions:
Raised $390 million through a registered direct offering.
It obtained an additional $146.5 million through its At-the-Market (ATM) program.
The average purchase price was $4,648 per ETH, approximately 8% above the recent market price.
Treasury and staking strategy in action
Since launching its strategy on June 2, SharpLink has accumulated 1,388 ETH in staking rewards, staking virtually all its ETH, even through liquid staking.
Additionally, they introduced an indicator called “ETH Concentration,” which measures how many ETH the company holds for every 1,000 diluted shares — reaching 3.87, a 94% increase since June.
How strongly does SharpLink compete?
Despite its enormous reserves, SharpLink remains behind BitMine Immersion Technologies, which holds 1.52 million ETH valued at around $6.6 billion, consolidating itself as a leader among institutional Ethereum treasuries.
Regulatory context that strengthens the momentum
Corporate adoption of the crypto world accelerates thanks to regulatory frameworks such as:
The GENIUS Law, which regulates stablecoins requiring liquid backing and high transparency.
SEC's Project Crypto, which clarifies the classification of digital assets, custody requirements, and promotes tokenized markets with unified licenses.
These initiatives have removed legal barriers and encouraged institutional entry into Ethereum and other cryptocurrencies.
What this means for the crypto community
Institutional trust. SharpLink demonstrates strong corporate backing for ETH.
Yield generation. The bet contributes to active income via staking.
Growth model. Transparent financing + capitalization in ETH.
Regulatory adoption. Leverages legal frameworks to boost legitimacy.
Conclusion
SharpLink is building a powerful crypto treasury: millions in ETH, active staking, and future acquisition capacity. Although still behind competitors like BitMine, its strategy reinforces the idea of Ethereum as institutional reserve infrastructure.
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