Sharplink boosts Ethereum holdings with $264M purchase

Sharplink Gaming, Inc. has increased its Ethereum (CRYPTO:ETH) holdings by acquiring 83,561 ETH for $264.5 million between July 28 and August 3, according to company disclosures.

This purchase raised its total ETH assets to 521,939 tokens, a 19% rise from 438,190 ETH held the previous week.

Sharplink funded the acquisition through net proceeds from its at-the-market equity facility, paying an average price of approximately $3,634 per ETH.

All the Ethereum holdings remain fully staked, generating cumulative staking rewards of 929 ETH since the treasury strategy started on June 2.

The company’s ETH-per-share concentration metric rose 83% since the beginning of this strategy, now standing at 3.66 compared to 3.40 one week earlier.

Co-CEO Joseph Chalom stated the company is exploring capital formation options, including debt and equity-linked offerings, to accelerate Ethereum accumulation.

“Our efforts optimise capital efficiency and reinforce alignment with Ethereum’s role in decentralized finance," he said.

Sharplink is among the largest corporate holders of Ethereum, trailing Immersion Technologies which controls over 833,000 ETH.

This aggressive approach to accumulation comes amid broader industry trends emphasising staking as a key component of yielding returns on digital assets within treasury strategies.

While 2025 has seen significant Bitcoin treasury accumulation, Sharplink’s strategy highlights growing corporate confidence in Ethereum as a long-term digital finance asset.

Other companies such as Bitmine, The Ether Machine and Bit Digital are also increasing altcoin reserves, suggesting a trend of treasury diversification beyond Bitcoin.

Sharplink’s approach blends aggressive ETH acquisition with staking rewards to position itself strategically within decentralized finance.

At the time of reporting, ETH price was $3,596.94.