SharpLink Gaming, Inc. has expanded its Ethereum treasury strategy with the purchase of an additional 7,689 ETH, increasing its total holdings to 205,634 ETH, according to a statement by the company on its official website.
The company has also earned 322 ETH in staking rewards since adopting Ethereum as its primary treasury reserve asset on June 2, 2025.
The latest acquisition took place at a weighted average price of $2,501 per ETH, including fees and transaction costs. To fund the expansion, SharpLink raised approximately $64 million in net proceeds through its At-The-Market (ATM) offering during the same period.
Yesterday, Bit Digital announced the company has shifted its entire Treasury to Ethereum, becoming one of the largest ETH holders among public companies.
Investor response has been bullish, with SharpLink’s stock climbing nearly 26% in the past 24 hours and gaining 63.88% over the past five days to close at $16.29.
Of the capital raised, around $37.2 million was secured on July 3, but remained unallocated to ETH purchases as of that date. The company said it expects to deploy most of this remaining capital in ETH acquisitions during the current week.
SharpLink has committed all of its ETH holdings to staking and restaking protocols, earning approximately 100 ETH in rewards during the most recent week.
In a move to increase investor transparency, the company introduced a new metric, “ETH Concentration,” calculated by dividing total ETH holdings by 1,000 assumed diluted shares outstanding. Since its first ETH purchase announcement on June 13, the metric has grown from 2.00 to 2.37 ETH—a 19% rise in three weeks.
Chairman Joseph Lubin, co-founder of Ethereum and CEO of Consensys, attributed the company’s growth to its strategic discipline.
“By refining our ETH-centric treasury approach and adopting transparency metrics like ETH Concentration, we’re creating long-term value for shareholders and raising the standard for responsible digital asset management,” he said.
