Last week, Minneapolis-based SharpLink deepened its commitment to the cryptocurrency market with another substantial investment in Ethereum. The gaming company disclosed the purchase of 56,533 ETH at an average price of about $4,462 per token, representing an outlay of nearly $252 million.
With this latest acquisition, SharpLink’s total Ethereum holdings have grown to 797,704 ETH, currently valued at approximately $3.7 billion, positioning the firm among the largest corporate holders of the digital asset.
In addition, SharpLink recently raised $360.9 million through an at-the-market equity program, providing fresh capital that could be directed toward its crypto strategy.
The company also reports maintaining roughly $200 million in cash reserves specifically allocated for future digital asset purchases, a move that underscores its strong conviction in Ethereum as a long-term treasury asset.
Since publicly designating Ethereum as its core reserve asset in June, SharpLink has expanded its ETH holdings from 438,000 to nearly 800,000, marking an 82% increase in just four weeks.
“Our disciplined execution of SharpLink’s ETH treasury strategy continues to demonstrate the strength of our vision,” Joseph Chalom, Co-CEO of the company, stated on Tuesday.
“We remain committed to building long-term value for our stockholders while supporting the broader Ethereum ecosystem,” he added.
ETH strategy is gaining traction amid bullish forecasts
SharpLink introduced a performance metric called ‘ETH Concentration’, which measures Ethereum holdings per 1,000 assumed diluted shares outstanding. This metric has surpassed 4.0, more than doubling since the company’s Ethereum treasury strategy launched in June.
The company has earned 1,799 ETH in staking rewards since the strategy’s implementation.
On August 18, 2025, SharpLink’s board approved a $1.5 billion stock buyback program to enhance shareholder value while continuing to deploy capital into cryptocurrency investments. Despite these efforts, the stock (SBET) closed at $19.17 on August 25, 2025, reflecting an 8.15% decline, though it saw a slight recovery in after-hours trading.
The corporate buying spree coincides with bullish market predictions from Wall Street analysts. Fundstrat’s Tom Lee predicted Tuesday that Ethereum would find its bottom shortly, citing technical analysis showing “very good risk/reward” near $4,300 with potential rebounds toward $5,400.
The corporate adoption trend reflects growing institutional confidence in Ethereum’s long-term prospects despite recent market volatility. SharpLink’s strategy mirrors similar treasury diversification moves by other public companies seeking alternatives to traditional cash holdings while potentially benefiting from cryptocurrency appreciation.
