Ethereum News Today: SharpLink Buys $295M in ETH, Surpasses Competitors in Treasury Growth

SharpLink Gaming, an Ethereum-based project led by co-founder and chairman Joseph Lubin, has announced an aggressive strategy to accumulate Ether (ETH) at a pace surpassing most competitors, signaling a renewed focus on corporate treasury management in the crypto space. The company’s recent purchases, including a $295 million acquisition of 77,210 ETH over a single weekend, have pushed its total holdings beyond 438,000 ETH—valued at over $1.69 billion—as of July 2025 [1]. This volume exceeds Ethereum’s monthly network issuance of 72,795 ETH, according to Ultra Sound Money, marking a significant milestone in the firm’s accumulation efforts [2].

Lubin, who also co-founded Ethereum and serves as CEO of Consensys, has stated that SharpLink aims to build its ETH reserves faster than any other Ethereum-based project. The company’s strategy includes staking a majority of its acquired ETH to generate additional rewards, further compounding its treasury growth. Lubin emphasized that, on a per-share basis, SharpLink’s accumulation rate will likely surpass that of other Ethereum projects and certainly outpace Bitcoin-related initiatives. The firm is competing with BitMine for the status of "Ethereum Treasury Premier Company," with BitMine currently holding 566,800 ETH valued at $2.13 billion, while SharpLink ranks second with 360,800 ETH worth $1.35 billion [3].

The firm’s rapid accumulation has drawn attention to its potential market impact. Corporate and institutional purchases of ETH via ETFs and direct acquisitions are reducing the circulating supply, a dynamic that could theoretically drive up the token’s price. SharpLink’s holdings now rank it as the second-largest corporate ETH holder, trailing only BitMine. The combined corporate and ETF-held ETH supply currently accounts for 6.73% of the total, or 8.12 million coins, according to Strategic ETH Reserve [4].

To accelerate its treasury growth, SharpLink amended its stock offering, expanding the fundraising target from $1 billion to $6 billion. Most proceeds from the offering are allocated to ETH purchases, enabling the firm to scale its holdings aggressively. Lubin noted that the company’s strategy is underpinned by a "market-price-based issuance mechanism," allowing it to buy ETH daily while staking existing holdings to earn compounding rewards. This approach aligns with broader trends of corporations leveraging crypto as a strategic asset, particularly as Ethereum’s utility as a staking and reserve currency gains traction.

SharpLink’s leadership has also undergone changes to support its expansion. Joseph Chalom, a 20-year veteran of BlackRock, joined as co-CEO to oversee global strategy, while Lubin’s appointment as chairman solidifies his role in shaping the company’s vision. The firm’s messaging emphasizes continuous accumulation, exemplified by its recent X post: “Banks close on weekends. Ethereum runs 24/7,” highlighting the round-the-clock nature of crypto markets [5].

Analysts note that the market’s reaction to such accumulation efforts depends on factors like macroeconomic conditions and Ethereum’s adoption in traditional finance. While SharpLink’s actions contribute to a tightening ETH supply, the broader implications remain under scrutiny. For now, the company’s strategy underscores a growing trend of corporate treasuries prioritizing crypto as a strategic asset, with Ethereum’s role evolving beyond decentralized applications to include reserve and staking functions.

Sources:

[1] Cointelegraph (https://cointelegraph.com/news/joe-lubins-sharplink-wants-to-win-eth-treasury-race)

[2] FXStreet (https://www.fxstreet.com/cryptocurrencies/news/sharplink-buys-295m-in-eth-more-than-all-the-ether-issued-last-month-202507280820)

[3] Strategic ETH Reserve (https://www.fxstreet.com/cryptocurrencies/news/sharplink-buys-295m-in-eth-more-than-all-the-ether-issued-last-month-202507280820)

[4] Strategic ETH Reserve (https://www.fxstreet.com/cryptocurrencies/news/sharplink-buys-295m-in-eth-more-than-all-the-ether-issued-last-month-202507280820)

[5] Lookonchain (https://www.fxstreet.com/cryptocurrencies/news/sharplink-buys-295m-in-eth-more-than-all-the-ether-issued-last-month-202507280820)