SharpLink Acquires 56,533 ETH, Boosts Holdings to $3.7 Billion
SharpLink Gaming expanded its Ethereum reserves to nearly 800,000 ETH worth $3.7 billion, funded by $360.9 million in net proceeds, while progressing toward its 1 million ETH milestone.
SharpLink Gaming added 56,533 ETH at an average price of $4,462, bringing its total Ethereum holdings to 797,704 ETH valued at about $3.7 billion. The Minneapolis-based firm raised $360.9 million last week through its At-the-Market facility, retaining $200 million in cash for further acquisitions. SharpLink has so far earned 1,799 ETH in staking rewards and publicly targets 1 million ETH as a milestone, currently 79% complete. The company now controls around 0.61% of Ethereum’s circulating supply, ranking behind BitMine Immersion Technologies, which holds about $7.7 billion worth of ETH. Shares of SBET traded at $19.35 on August 26, 2025, up 1% on the day but down 7% over the past month.
- ATM Facility: At-the-Market facility that allows companies to raise capital by selling shares directly into the market at prevailing market prices.
- ETH Staking: The process of locking Ethereum to support network operations and earn rewards through Ethereum's proof-of-stake mechanism.
- Ethereum Treasury Company: A publicly traded firm that strategically acquires and holds large amounts of Ethereum as part of its corporate treasury strategy.