SharpLink Boosts Ethereum Holdings to $3.5B with Fresh 19,000 ETH Purchase

SharpLink Gaming has dramatically expanded its Ethereum holdings, adding 19,271 ETH worth roughly $76.5 million and pushing its total stash to 859,853 ETH, valued at around $3.5 billion. The move follows a successful capital raise on Friday and reinforces SharpLink’s aggressive Ether treasury strategy.

According to the company’s Tuesday announcement, the latest purchase was made at an average price of $3,892 per ETH. Since June, SharpLink has earned about 5,671 ETH in staking rewards, translating to $23.25 million at current prices near $4,100 per token. By staking its holdings, the company turns part of its treasury into a yield-generating asset that supports Ethereum’s proof-of-stake network.

SharpLink became the first publicly traded company to adopt an Ethereum treasury strategy in May, initially committing $425 million through a private investment in public equity (PIPE). Its stock has since soared over 450% in six months, according to Yahoo Finance data.

Meanwhile, Bitmine Immersion Technologies—the largest Ethereum treasury holder—has ramped up its accumulation. On Monday, it bought another $250 million worth of ETH, bringing its total to about 3.24 million tokens, valued at more than $13 billion. The company now controls roughly 2.74% of all ETH in circulation and aims to own 5%. Chairman Tom Lee described the dip in ETH’s price as a “rare buying opportunity.”

With Ether trading down 14% over two weeks, more firms are seizing the chance to expand their holdings. Data from Strategicethreserve.xyz shows 69 Ethereum treasury companies now collectively hold 5.74 million ETH.