Ethereum Treasury Expansion by SharpLink Gaming
In a strategic move reflecting its commitment to Ethereum (ETH) acquisition, SharpLink Gaming, a prominent Ethereum treasury firm, has resumed its ETH purchasing activities. This marks their first ETH acquisition since August 2025, with the firm acquiring an additional 19,271 ETH at an average cost of $3,892 per ETH.
SharpLink Gaming Elevates Its Ethereum Portfolio to $3.5 Billion
Based in Minneapolis, SharpLink Gaming has announced a significant increase in its Ethereum holdings, adding 19,271 ETH to its portfolio. The firm’s total ETH assets now amount to 859,853 ETH, valued at nearly $3.5 billion.
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Last week, the company successfully raised $76.5 million in gross proceeds, an amount achieved before deducting placement agent fees and other expenses. These funds facilitated the latest ETH acquisition. Joseph Chalom, co-founder of SharpLink Gaming, emphasized that their primary goal is to enhance shareholder value through strategic ETH accumulation. He noted that the recent capital raise was executed at a premium to NAV, and the subsequent acquisition of ETH at favorable market prices proved immediately beneficial for shareholders, underlining the effectiveness of their strategic approach.
The Nasdaq-listed company also reported an increase in total ETH staking rewards, now totaling 5,671. SharpLink Gaming initiated its ETH-centric corporate treasury strategy in June 2025.
Moreover, the company’s Ethereum Concentration metric experienced a 100% increase, reaching a level of 4.0 since June 2025. This metric provides insight into the company’s crypto exposure relative to its overall potential equity base, calculated by dividing total ETH holdings (including LsETH) by all issued and potentially issuable shares, without considering the treasury stock method or vesting and conversion restrictions.
Following the announcement, SharpLink Gaming’s stock, SBET, saw a 2.64% decline, trading at $14.40 at the time of writing, although it has risen by over 440% in the past six months.
Ethereum’s Dominance in the Crypto Treasury Arena
The year 2025 has ushered in a significant shift, with numerous companies embracing a crypto-focused corporate treasury strategy. This approach extends beyond major digital currencies like Bitcoin (BTC) and Ethereum (ETH).
For example, CleanCore Solutions, listed on the NYSE, recently disclosed that its Dogecoin (DOGE) treasury had surpassed 710 million DOGE, with a goal of accumulating 1 billion DOGE. However, Ethereum’s adoption rate has outpaced all other digital assets, including Bitcoin, throughout the year.
Notably, Ethereum whale BitMine recently acquired an additional 203,800 ETH, now controlling 2.7% of Ethereum’s circulating supply. As of now, ETH is trading at $3,988, reflecting a 0.8% increase over the past 24 hours.
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