Ethereum News Today: SharpLink Surpasses BitMine as Largest Corporate ETH Holder with $1.3B Treasury After 53% Surge in Holdings

SharpLink Gaming has reaffirmed its dominance in corporate Ethereum (ETH) holdings following a record-breaking accumulation of 79,949 ETH in a single week, valued at approximately $259 million. The move has repositioned the company ahead of rival BitMine, which had temporarily overtaken it with a $1 billion ETH position earlier in July. SharpLink now holds a total of 360,807 ETH in its treasury, equivalent to roughly $1.3 billion at current prices, solidifying its status as the largest corporate ETH holder globally.

The purchase, executed at an average price of $3,238 per ETH, represents the firm’s largest single-week acquisition since initiating its digital treasury strategy in June. Funding for the transaction came from SharpLink’s At-The-Market facility, which retains an additional $96.6 million allocated for future ETH purchases. The company’s ETH concentration metric has surged to 3.06, a 53% increase since the strategy’s inception, reflecting its focused accumulation efforts.

SharpLink’s strategy is anchored in leveraging Ethereum’s transition to a proof-of-stake model, which allows the company to generate staking rewards. Since June 2, it has earned 567 ETH through staking, demonstrating a dual approach of capital appreciation and active yield generation. Joseph Lubin, SharpLink’s Chairman and co-founder of Ethereum, emphasized the strategic rationale: “The continued strength of ETH and our ability to acquire significant volume at opportunistic prices support our aim to enhance shareholder value through disciplined treasury growth.”

The competitive landscape for corporate ETH holdings has intensified amid broader institutional adoption. BitMine’s brief $1 billion position underscored the escalating stakes in a market where companies are increasingly viewing ETH as a strategic asset. SharpLink’s resurgence, however, highlights its disciplined execution and access to liquidity. The company’s treasury now accounts for a 29% weekly increase in holdings, underscoring its aggressive yet methodical approach to digital asset integration.

Regulatory developments have further enabled this trend. The recent enactment of the Genius Act has addressed key uncertainties, fostering a more favorable environment for corporate participation in crypto markets. Lubin described the legislation as “transformative,” enabling companies to “harness the full potential of Ethereum” without prior legal ambiguities. This regulatory clarity has accelerated corporate appetite for ETH, with SharpLink positioning itself as a pioneer in the space.

As the corporate ETH race evolves, SharpLink’s strategy offers a blueprint for integrating digital assets into long-term financial planning. The company’s ability to balance large-scale acquisitions with staking yields sets a benchmark for others in the sector. While competitors like BitMine continue their accumulation efforts, SharpLink’s treasury strategy—backed by regulatory tailwinds and institutional confidence—signals a broader shift in corporate asset management. The focus now shifts to whether this trend will spur innovative strategies as the market matures.