SharpLink adds $75 million in Ethereum as treasury holdings rise to nearly 860,000 ETH
Quick Take
- SharpLink bought 19,271 ETH at an average price of $3,892 (about $75 million), raising its holdings to 859,853 ETH.
- The digital asset treasury’s ether holdings are worth about $3.5 billion.
Minnesota-based Ethereum digital asset treasury SharpLink Gaming said Tuesday it added 19,271 ETH to its balance sheet, bringing its total holdings to 859,853 ETH.
Given Ethereum's recent price slide, the company's total holdings are worth about $3.5 billion, about the same as they reported last month. Ethereum dropped about 4% on Tuesday to $3,869.91, according to The Block's price page.
SharpLink also said Tuesday that cumulative staking rewards since launching its ether-denominated treasury strategy reached 5,671 ETH (over $22 million) as of last week. The Nasdaq-listed company pivoted from online gaming to an Ethereum treasury in June.
The company's shares, ticker symbol SBET, were down about 2% at $14.35 Tuesday morning, according to Yahoo Finance. SharpLink's shares declined last week even as analysts projected roughly 200% upside for the stock.
Joseph Lubin, the co-founder of Ethereum and founder/CEO of Consensys, was appointed Chairman of SharpLink in May 2025, following a $425 million private investment round led by Consensys and other investors.
SharpLink is the second-largest Ethereum-based DAT after Bitmine Immersion. The amount of ETH held by public companies is currently worth over $16 billion, according to The Block's data dashboard.
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