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SharpLink Expands ETH Holdings with Major Staking Rewards

Nasdaq-listed SharpLink Gaming increased its treasury by acquiring 83,561 ETH at $3,634 average, boosting holdings to 521,939 ETH—a 19% weekly surge that placed it second among 66 ETH treasury companies, while raising $264.5M via an ATM offering.

ETH

Summary

SharpLink Gaming announced that between July 28 and August 3 it purchased 83,561 ETH at an average price of $3,634, totaling around $337 million, which raised its total ETH holdings to 521,939—a 19% increase from the previous week and ranking second among 66 ETH treasury companies per SER data. Additionally, the company raised $264.5 million via an ATM offering to fund further ETH acquisitions and has staked 100% of its ETH, earning 929 ETH in staking rewards since its strategy began on June 2.

Terms & Concepts
  • ETH: The native cryptocurrency of the Ethereum blockchain, used for transactions and executing smart contracts.
  • staking: The process of locking cryptocurrency to support blockchain network operations, earning rewards in return.
  • ATM offering: An At-the-Market offering that enables a company to raise capital by selling securities gradually in the open market.