SharpLink Acquires 143,593 ETH Worth $667 Million at $4,648 Each
SharpLink’s largest weekly Ethereum purchase boosts its holdings to over 740,000 ETH, advancing its goal of amassing 1% of total circulating supply amid volatile market conditions.
In an official announcement, SharpLink Gaming disclosed acquiring 143,593 Ethereum between August 10 and August 15 at an average price of $4,648, totaling $601.5 million. This brings the company’s ETH reserves to 740,460 tokens worth over $3 billion, reinforcing its position as a leading corporate holder, second only to BitMine Immersion. The purchase, fueled by $390 million from a registered direct offering and $146.5 million from an ATM facility, marks its largest single-week buy since launching its Ethereum treasury. SharpLink is targeting ownership of over 1.2 million ETH, or 1% of all circulating supply, by September 16. The acquisition occurred amid recent price volatility, with Ethereum falling 5.9% in the past 24 hours to $4,124 amid macroeconomic and geopolitical tensions.
- Ethereum (ETH): A decentralized blockchain platform that supports smart contracts and decentralized applications, with its native token ETH used for transactions and fees.
- Ethereum Treasury: A corporate or institutional reserve of Ethereum held as a strategic asset, typically for long-term value appreciation or blockchain ecosystem participation.