SharpLink Gaming has reinforced its position as one of the largest corporate holders of Ethereum, after acquiring $252 million worth of the token last week. The move takes the company’s Ether holdings to almost 800,000 ETH, valued at approximately $3.7 billion.
SharpLink Boosts Ether Treasury
The Minneapolis-based firm revealed in its Tuesday update that it had purchased 56,533 ETH at an average price of $4,462 per token, taking its total reserves to 797,704 ETH. Alongside its latest crypto investment, the company also raised $360.9 million through its at-the-market equity programme, leaving $200 million in cash to fuel further acquisitions.
Since launching its ETH treasury strategy in June, SharpLink has steadily expanded its holdings from 438,000 ETH to nearly 800,000 ETH within just four weeks. The firm has also reported earning 1,799 ETH in staking rewards over the same period.
Strategic Vision and Market Impact
“Our regimented execution of SharpLink’s ETH treasury strategy continues to demonstrate the strength of our vision,” said Co-CEO Joseph Chalom. He emphasised that the company remains committed to creating long-term value for its shareholders while contributing to the wider Ethereum ecosystem.
SharpLink’s weekly ETH moves. Source: SharpLink
In line with this strategy, SharpLink introduced a new performance measure called “ETH Concentration.” The metric calculates Ether holdings per 1,000 assumed diluted shares outstanding. The latest figure stands above 4.0, more than double the level recorded in June, signalling a significant increase in ETH exposure relative to equity.
$1.5 Billion Stock Buyback Plan
Alongside its aggressive cryptocurrency push, SharpLink’s board has approved a $1.5 billion stock buyback programme. The initiative is aimed at boosting shareholder value and balancing the firm’s strong crypto investments with direct returns to investors.
Despite the announcements, SharpLink’s share price closed at $0.96 on Monday, down 6.8% on the day, before edging slightly higher in after-hours trading.
Broader Market Developments
The latest ETH purchases come amid cautious optimism from market analysts. Fundstrat co-founder Tom Lee stated on Tuesday that Ether may have reached its bottom, predicting a rebound from near $4,300 to around $5,400. His view was supported by a technical analysis note from Fundstrat’s strategist Mark Newton, who described the risk-to-reward profile as “very good.”
Lee’s ETH treasury firm, BitMine Immersion Technologies, also added to its own holdings with a $21.3 million purchase of 4,871 ETH last week. This brought BitMine’s reserves to 1.72 million ETH, worth around $7.5 billion, further consolidating its position as a major corporate holder of Ethereum.
Outlook for Ethereum Treasuries
The rapid growth of corporate Ether treasuries highlights the increasing confidence in Ethereum as a long-term store of value and strategic reserve asset. With SharpLink and BitMine together holding over 2.5 million ETH, valued at more than $11 billion, their moves may add further legitimacy to Ether’s role in corporate balance sheets.
SharpLink’s dual strategy of expanding its crypto reserves while simultaneously implementing a large-scale stock buyback suggests that the company is betting on both digital assets and traditional financial mechanisms to strengthen shareholder value.
