17.07.2025 01:22

SharpLink Gaming, a Nasdaq-listed gaming company, has become the world's largest corporate holder of Ethereum (ETH), surpassing even the Ethereum Foundation. This remarkable achievement was accomplished through a significant acquisition spree over a single week, resulting in holdings exceeding 280,000 ETH, currently valued at approximately $900 million.

The company's aggressive purchasing strategy involved acquiring 74,656 ETH between July 7th and 13th at a weighted average price of $2,852 per coin, totaling around $213 million. This acquisition propelled SharpLink's total ETH holdings to surpass those of the Ethereum Foundation, which currently holds approximately 196,354 ETH. Further purchases, totaling 6,377 ETH, were made subsequent to this initial wave, bringing the week's total acquisitions to over 91,000 ETH, costing roughly $275 million. Data from Arkham and Lookonchain confirmed these significant transactions.


SharpLink's substantial ETH holdings are largely staked, generating over 415 ETH in staking rewards—approximately $1.3 million—since the strategy's implementation in early June. The company introduced a new "ETH Concentration" metric to illustrate this growth, showing a 23% increase in ETH exposure per share since mid-June. This impressive accumulation was fueled, in part, by a successful $413 million capital raise through an at-the-market equity program between July 7th and 11th, with a significant portion allocated for further ETH purchases.

This massive ETH accumulation by SharpLink has coincided with a dramatic surge in the company's share price. Yesterday, SBET's stock price experienced a significant increase of 21.31% during regular trading, closing at $28.97. The upward trend continued into after-hours trading, with an additional 11.32% gain, further demonstrating the market's positive reaction to SharpLink's bold investment strategy. These figures were obtained from Google Finance and internet sources.