SharpLink Gaming Soars 28% After Boosting Ethereum Holdings to Over $533 Million
Shares of sports betting technology firm SharpLink Gaming (SBET) surged over 28.6% on Tuesday following its announcement of a major Ethereum acquisition spree, bringing its total Ether holdings to 205,634 ETH, currently valued at more than $533 million.
Between June 28 and July 4, SharpLink acquired an additional 7,689 ETH for approximately $19 million, with an average purchase price of $2,501 per coin. The company’s continued commitment to Ethereum is part of a broader strategy to center its treasury operations around ETH and staking rewards.
Following the announcement, SBET stock closed at $16.29, up from its previous close of $12.67, and added another 4.36% in after-hours trading to reach $17.00.
Ethereum-Focused Treasury Strategy
SharpLink has signaled a clear shift in its corporate strategy toward Ethereum in recent months. On May 27, the company formally announced its transition to an ETH-centric treasury, followed days later by a $1 billion stock offering plan, with most of the proceeds earmarked for Ethereum purchases.
During the same timeframe as its latest Ether acquisition, SharpLink raised an additional $64 million through the sale of over 5.4 million shares, with a substantial portion already allocated for further ETH buys.
Earlier, on June 25, the firm also made headlines after buying $30 million worth of ETH, pushing its holdings to 188,000 ETH at that point and triggering a 7% stock rally.
100% of ETH Holdings Committed to Staking
In a bold move, SharpLink revealed it has committed 100% of its Ether reserves to staking and restaking, a strategy that has already generated 322 ETH in rewards since June 2 — valued at roughly $848,750.
To provide greater clarity to investors, the company also introduced a new performance indicator dubbed ETH Concentration, which highlights the firm’s Ethereum exposure in relation to its equity structure.
Chairman Joseph Lubin, who also co-founded Ethereum, emphasized the company’s long-term vision:
“Our sustained success is a direct result of SharpLink’s disciplined execution of its ETH-centric treasury management strategy and its unwavering commitment to operational transparency.”
NEW: SharpLink now holds ~205,634 ETH
Between June 28 and July 4, SharpLink acquired ~7,689 ETH for ~$19.2M at an average price of ~$2,501 per ETH
During that same period, the company raised an additional ~$64.2M through its ATM facility, selling ~5.4M shares
SharpLink has… pic.twitter.com/bhS0K1ZBul
— SBET (SharpLink Gaming) (@SharpLinkGaming) July 8, 2025
Corporate Crypto Treasuries Diversify Beyond Bitcoin
While Bitcoin has traditionally dominated corporate treasury strategies, a growing number of firms are now turning to altcoins like Ethereum and Binance Coin (BNB) for long-term asset growth.
For example, on Monday, Bit Digital announced it had shifted its treasury focus from Bitcoin to Ethereum, selling 280 BTC to increase its ETH holdings.
Similarly, Nano Labs, a Chinese microchip manufacturer, recently kicked off its initiative to acquire up to 10% of BNB’s total circulating supply, beginning with a $50 million purchase.
SharpLink’s aggressive ETH accumulation and staking strategy reflects a rising trend among companies seeking yield-generating digital assets. Its success may pave the way for other firms to follow suit, particularly as Ethereum solidifies its role not just as a blockchain platform, but as a cornerstone of corporate finance innovation.
