Ethereum News Today: SharpLink Boosts Ethereum Holdings to 797,704 Tokens Amid $360.9M ATM Raise

SharpLink Gaming, Inc. (NASDAQ: SBET) has significantly expanded its Ethereum holdings, acquiring 56,533 ETH at an average price of $4,462 during the week ending August 24, 2025. This acquisition brought the company’s total ETH reserves to 797,704 tokens, valued at approximately $3.7 billion. The purchase was funded by $360.9 million in net proceeds raised through an at-the-market (ATM) equity offering during the same period, with approximately $200 million remaining in undeployed capital earmarked for further ETH acquisitions [1].

The company's treasury strategy, launched in June 2025, continues to prioritize Ethereum as a key component of its long-term value proposition. SharpLink has consistently converted fiat proceeds from its ATM facility into ETH, boosting its cash-converted ETH concentration ratio above 4.00 within two months. This aggressive accumulation reflects a disciplined execution of its digital asset strategy and reinforces its position as one of the largest corporate holders of Ether globally [1].

Alongside its growing ETH holdings, SharpLink has benefited from Ethereum’s proof-of-stake yield. Since the launch of its staking program, the company has earned 1,799 ETH in staking rewards, adding a compounding layer of value to its Ethereum reserves. Analysts note that the dual strategy of acquiring ETH while generating yield through staking sets SharpLink apart as a leading institutional backer of the Ethereum ecosystem [1].

In addition to its treasury expansion, SharpLink announced an $1.5 billion stock repurchase program on August 18, 2025. The initiative is designed to return capital to shareholders and align the company’s stock price with the net asset value of its Ethereum holdings. The move underscores the firm’s commitment to balancing digital asset growth with traditional shareholder returns, leveraging its strong liquidity position to support both objectives [1].

The recent ETH accumulation by SharpLink aligns with broader market trends, including significant inflows into Ethereum ETFs, which reached $443.9 million in the same week. While not directly tied to these products, SharpLink’s strategy reflects a growing institutional appetite for Ethereum as a store of value and strategic asset. By expanding its ETH reserves and utilizing staking rewards, the company continues to position itself as a key player in the evolution of corporate crypto treasury management [3].

Source:

[1] https://www.stocktitan.net/news/SBET/sharp-link-announces-total-eth-holdings-increased-to-797-704-as-of-99d3ktvfiipq.html

[2] https://x.com/SharpLinkGaming/status/19603137****7419149

[3] https://cryptonews.com/news/eth-etfs-haul-443-9m-crushing-bitcoin-with-2x-inflows-is-confidence-shifting-to-ethereum/

[4] https://cryptorank.io/news/ethereum