SharpLink's unrealized gains surpass $900 million since ETH treasury launch
Quick Take SharpLink Gaming said it has seen its unrealized profits surge past $900 million since launching its treasury strategy in early June. The company currently holds about 839,000 ETH.
Ethereum treasury firm SharpLink Gaming has seen its unrealized profits surge past $900 million since launching its ETH treasury strategy in early June, the company said Monday in a post on X.
The company, which trades under the ticker SBET on Nasdaq, has doubled its ETH concentration during the four-month period, "making every share more valuable," it said .
SharpLink currently holds roughly 839,000 ETH on its balance sheet with no debt, according to the post. "This is the power of a productive and yield-bearing asset like ETH," the company said.
The digital asset treasury (DAT) strategy represents a growing trend among publicly traded companies seeking to gain exposure to cryptocurrencies. SharpLink has also announced plans to tokenize its common stock, SBET, on the Ethereum blockchain.
Joseph Lubin, chairman of SharpLink and founder of Consensys, told The Block last week that Consensys also plans to collaborate with SharpLink in the coming year for Linea, its Ethereum Layer 2 network. Sharplink previously stated that it intends to stake part of its ETH holdings on the Layer 2 network.
"SharpLink is going to continue to accumulate [ether] and Linea will be able to do things in terms of risk-adjusted yield that we don't think we're going to see any time soon in the industry," Lubin said. "SharpLink hasn't announced anything, but I think there's a good chance that there will be a huge amount of ether staked on Linea, making Etherex and other things that we're coming out with on Linea the best place to deploy your ether at Layer 2."
SharpLink's stock closed up 5.8% on Monday at $19.24, according to The Block's SBET price page . It has risen 22.8% over the past month.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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