SharpLink Gaming's ETH Acquisition: A $3.6 Billion Bet

SharpLink Gaming acquired 39,008 Ethereum (ETH) last week, with an average purchase price of $4,531. This increased the company's total ETH holdings to 837,230, valued at over $3.6 billion. Additionally, SharpLink Gaming spent $46.6 million on Ethereum purchases in the month.

SharpLink Gaming, Inc. (Nasdaq: SBET), one of the world's leading corporate holders of Ethereum (ETH), has announced a significant increase in its ETH holdings. The company acquired 39,008 ETH last week, with an average purchase price of $4,531, boosting its total ETH holdings to 837,230, valued at over $3.6 billion [2]. This acquisition marks another week of steady growth in SharpLink's Ethereum treasury.

The latest acquisition was funded through the company's At-the-Market (ATM) equity program, which generated $46.6 million in net proceeds during the week of August 25–29. The company has been leveraging its ATM facility since launching its ETH-focused treasury strategy in June 2025, raising hundreds of millions of dollars over the past three months [2].

In addition to direct purchases, SharpLink's treasury strategy is benefiting from Ethereum's staking ecosystem. As of August 31, the company has earned 2,318 ETH in staking rewards since June. The firm also introduced an internal metric known as ETH Concentration, which measures the number of ETH held per 1,000 diluted shares outstanding. For the week ending August 31, ETH Concentration rose to 3.94, representing a 97% increase since the start of the program [2].

SharpLink's disciplined approach to its treasury strategy has been evident in its consistent growth of ETH holdings and the generation of staking rewards. The company's strategic investments in Ethereum reflect a broader trend of corporations diversifying their treasuries and seeking exposure to high-growth digital assets [1].

References:
[1] https://www.mexc.co/fil-PH/news/sharplink-gamings-bold-move-a-massive-23-5m-ethereum-investment-ahead/76630
[2] https://cryptonews.com/news/sharplink-gaming-inc-eth-holdings-top-36b/