SharpLink Gaming Boosts Ethereum Holdings 94% to 740,760 ETH

SharpLink Gaming has aggressively expanded its Ethereum holdings to 740,760 ETH, valued at over $3 billion, making it the second-largest corporate Ethereum treasury behind BitMine Immersion. The company recently completed a $601.5 million purchase of 143,593 ETH at an average price of $4,648, funded by a rapid capital raise of $537 million through an At-the-Market facility and a direct offering. SharpLink has committed nearly all of its Ethereum to staking, generating 1,388 ETH in rewards since early June 2025, though it reported a $103 million net loss from staking activities, reflecting the volatile nature of such yields. Despite these losses, SharpLink maintains $84 million in cash reserves for further acquisitions, signaling ongoing plans to increase its Ethereum position toward a target of 1% of all circulating ETH. The firm acknowledges potential regulatory risks related to its staking operations, highlighting the uncertain environment for crypto treasury strategies. This expansion underlines SharpLink's strategic shift to becoming a major player in the Ethereum ecosystem amid fluctuating market conditions and investor interest.