SharpLink Gaming Boosts Ethereum Holdings by 7% With $30.7 Million Purchase

SharpLink Gaming, a leading entity in the gaming sector, has significantly bolstered its Ethereum holdings, acquiring an additional 12,207 ETH. This purchase, valued at around $30.7 million, was executed at an average price of $2,513 per ETH between June 16 and June 20, 2025. As a result, SharpLink Gaming now holds a total of 188,478 ETH, making it the largest publicly traded company in terms of Ethereum holdings.

To finance this expansion, SharpLink Gaming raised $27.7 million by issuing 2.5 million shares through an ATM facility. This move underscores the company's dedication to leveraging its financial capabilities to amass Ethereum, even if it means potential share dilution. The company has staked all of its ETH holdings, earning 120 ETH in rewards since June 2, 2025. This staking initiative has led to an 18.97% increase in ETH per share, illustrating the potential for substantial returns through staking mechanisms.

SharpLink Gaming's shift towards Ethereum investing marks a significant change in its treasury strategy. The company's aggressive accumulation of Ethereum and its focus on staking rewards reflect a strong conviction in the future appreciation of Ethereum assets. This strategic pivot is particularly striking given the company's historical emphasis on iGaming engagement. The appointment of Joseph Lubin, the co-founder of Ethereum, as the Board Chairman, provides valuable context for the company's strategic direction. Lubin's expertise and influence have effectively transformed SharpLink Gaming into a publicly-traded Ethereum proxy, where investors are primarily exposed to Ethereum price movements rather than traditional gaming business metrics. The company now operates as an ETH accumulation and staking entity with a Nasdaq listing, offering investors a distinctive opportunity to gain exposure to Ethereum through a publicly traded vehicle.