Coin WorldSaturday, Jul 12, 2025 2:30 pm ET
1min read
SharpLink Gaming has made a significant move in the cryptocurrency space by purchasing 10,000 ETH from the Ethereum Foundation. The transaction, valued at approximately $25.7 million, was completed on July 10, 2025, at an average price of $2,572.37 per ETH. This acquisition is part of SharpLink Gaming’s broader strategy to enhance its involvement in the blockchain and cryptocurrency sectors, with plans to stake and restake the acquired ETH to support its gaming initiatives.
Joseph Lubin, the chair of SharpLink and a co-founder of Ethereum, emphasized that this purchase is not just a trade but a commitment to the long-term vision of Ethereum. Lubin’s statement underscores SharpLink’s support for Ethereum’s decentralization goals and its belief in the network’s long-term strength. By staking and restaking ETH, SharpLink aims to remove supply from circulation, potentially enhancing the robustness of the Ethereum network.
Following the announcement, SharpLink’s stock surged by more than 14%, reflecting investor confidence in the company’s strategic move. The acquisition mirrors trends seen in the Bitcoin treasury market, where companies like MicroStrategy have made significant investments in cryptocurrencies. Ethereum markets are closely watching the potential liquidity effects and staking initiatives that could result from SharpLink’s actions.
SharpLink Gaming’s acquisition of 10,000 ETH is part of a broader trend of major corporations investing in cryptocurrencies. The company has been actively expanding its cryptocurrency holdings, with a recent purchase of 21,487 ETH for $64.24 million. This continued buying spree reflects SharpLink Gaming’s aggressive strategy to capitalize on the potential of blockchain technology and cryptocurrencies. The company’s investments in ETH are part of a broader plan to integrate decentralized finance (DeFi) solutions into its gaming platform, offering users new and innovative ways to engage with digital assets.
The Ethereum Foundation, based in Zug, Switzerland, played a crucial role in facilitating this large-scale cryptocurrency acquisition. The foundation’s involvement in this deal demonstrates its commitment to supporting the growth and adoption of Ethereum. The sale of 10,000 ETH to SharpLink Gaming is a significant step in the foundation’s efforts to promote the use of Ethereum in various industries, including gaming.
SharpLink Gaming’s acquisition of 10,000 ETH is a strategic decision that aligns with the company’s long-term goals of integrating blockchain technology into its operations. By staking and restaking the ETH, SharpLink Gaming aims to generate additional revenue and strengthen its position in the competitive gaming industry. This move underscores the growing importance of cryptocurrencies in the gaming industry, as more companies recognize the potential of digital assets to drive innovation and growth.
