SharpLink Gaming Increases Ethereum Holdings

Ethereum treasury firm SharpLink Gaming announced in its weekly progress report that it has increased its total ETH holdings to over 360,000, worth approximately $1.3 billion based on the current price of ETH.

SharpLink acquired the Ethereum at an average price of $3,238. Last week, the company purchased 79,949 ETH, investing $48 million on July 14 and adding more purchases shortly thereafter.

Joseph Lubin, chairman of SharpLink and CEO of blockchain firm Consensys, stated, “The continued strength of ETH and our ability to acquire significant volume at opportunistic prices support our aim to continue enhancing ETH concentration and shareholder value through disciplined execution of our treasury growth strategies.”

The Nasdaq-listed gambling marketing firm’s stock recently traded at nearly $28 a share, up more than 10%, with a 206% increase over the past month. SharpLink is looking to further increase its ETH holdings, announcing an increase in a stock sale from $1 billion to $6 billion to support this goal.

Ethereum recently reached a 2025 peak of $3,848 and is currently trading around $3,700, reflecting a 25% rise over the last week, according to crypto data provider CoinGecko.

SharpLink is among several publicly traded companies increasing their Ethereum treasuries. Recently, Bit Digital (BTBT), which transitioned from Bitcoin mining, announced the purchase of approximately 19,683 ETH, bringing its total to about 120,306 ETH worth nearly $70 million. Additionally, BitMine Immersion, backed by Peter Thiel, surpassed $1 billion in Ethereum after adding $500 million in ETH to its holdings. This firm aims to control 5% of all Ethereum held or staked.

These companies are following a model established by Strategy, formerly MicroStrategy, which shifted focus from software development to Bitcoin purchasing in 2020, now holding roughly $72 billion in BTC at current prices.