SharpLink Purchases $667M in ETH, Stakes 95% of Holdings

• SharpLink Gaming acquires over $667 million in Ethereum
• Firm stakes nearly all holdings, earning 1,388 ETH in rewards

SharpLink Gaming, a Nasdaq-listed software company turned Ethereum treasury firm, has announced the acquisition of 143,593 ETH, valued at approximately $667.4 million. The purchase brings SharpLink’s total Ethereum holdings to 740,760 ETH, worth nearly $3.2 billion, solidifying the company as the second-largest corporate Ethereum treasury globally. The announcement was made on August 19, 2025, according to GlobeNewswire.

On August 19, 2025 (UTC), SharpLink’s Chairman of the Board, Joe Lubin, emphasized the strategic importance of these actions in advancing the decentralized economy. Lubin, who also co-founded Ethereum, described Ether as a productive, yielding asset that offers significant advantages over Bitcoin for corporate treasuries. He stated, “SharpLink’s aggressive accumulation, staking, and strategic management of ETH set it apart from any other public company in the market.” Lubin affirmed that the company intends to accelerate ETH accumulation per share faster than competitors.

SharpLink has adopted a comprehensive treasury management strategy that combines acquisition, staking, and participation in decentralized finance (DeFi) yield opportunities. Nearly 100% of the company’s holdings are staked, generating 1,388 ETH in rewards to date. The firm’s aggressive ETH concentration strategy aligns with broader trends of institutional adoption, with digital asset treasuries becoming increasingly prominent in corporate ecosystems.

To fund the recent Ethereum purchase, SharpLink raised $537 million last week. This capital raise included $146.5 million from an at-the-market facility and $390 million through a registered direct offering. In addition, the company retains over $84 million in cash reserves dedicated to future Ethereum acquisitions, according to Investing.com.

While investing heavily in Ethereum, SharpLink reported significant financial losses for the second quarter of 2025. The company faced a net loss of $103.4 million, primarily due to non-cash impairments and stock-based compensation. Revenue also declined to $700,000, down from $1 million in the previous year, resulting in a drop in stock price following the Q2 earnings release. Despite these financial challenges, SharpLink remains focused on expanding its ETH concentration figure, which has grown 94% since June 2025.

As of August 19, 2025, 15:15 UTC, Ethereum (ETH) is trading at $4,186.60, with a 3.01% decrease in 24-hour trading volume, according to data shared in the Market Survey.