Coin WorldTuesday, Jul 29, 2025 11:59 am ET
1min read
SharpLink Gaming has significantly expanded its Ethereum holdings in July 2025, acquiring $780 million worth of ETH and boosting its total treasury to 438,200 ETH—a 121% increase from 198,200 ETH in June. This surge positions the firm as the second-largest corporate Ethereum treasury, valued at approximately $1.4 billion, trailing only BitMine Immersion’s 625,000 ETH ($2.4 billion) [1]. The acquisition was funded through the issuance of nearly 45 million common shares and a private placement, leveraging the company’s stock premium to finance purchases [1].
Staking has played a pivotal role in SharpLink’s strategy. The company earned 722 ETH in 2024 through Ethereum’s proof-of-stake model, equivalent to $2.8 million at current rates. Nearly all of SharpLink’s ETH is allocated to staking protocols, generating passive income while validating transactions. This approach reflects a strategic shift from traditional sports gambling marketing to Ethereum accumulation and staking, aiming to maximize shareholder value [1].
The firm’s ETH Concentration—a metric measuring Ethereum per 1,000 diluted shares—rose sharply from 2.29 to 3.4 in three weeks. This indicates an aggressive allocation of Ethereum relative to outstanding shares, enhancing investor value amid market volatility. SharpLink’s leadership, including co-CEO Joseph Chalom (formerly of BlackRock’s digital assets division) and Ethereum co-founder Joe Lubin as chair, reinforces its strategic positioning. Lubin’s role in the Linea Consortium, which oversees 75% of the token supply for Ethereum’s layer-2 scaling network, further solidifies SharpLink’s influence in the ecosystem [1].
Market dynamics underscore the firm’s timing. Ethereum’s price reached a seven-month high above $3,900 in early June, driven partly by institutional demand like SharpLink’s purchases. Despite a recent price pullback, ETH remains up 60% over the past month. SharpLink’s stock price mirrored this momentum, doubling in the same period before a 31% decline in the final week of July, reflecting crypto market volatility [1].
The company’s expansion aligns with broader institutional trends favoring Ethereum as a long-term asset. By integrating staking rewards and layer-2 scaling initiatives, SharpLink not only diversifies its treasury but also contributes to Ethereum’s ecosystem growth. Its involvement in the Strategic Ethereum Reserve—a consortium of Ethereum-aligned entities—highlights its role in institutional adoption [1].
SharpLink’s aggressive accumulation and staking strategy signal strong institutional confidence in Ethereum’s future. With a focus on increasing Ethereum per diluted share and leveraging leadership expertise, the firm aims to maintain its dominance in corporate crypto treasuries while navigating market fluctuations. Continued monitoring of its holdings and market impact will be critical for investors and industry observers.
[1] Source: [1] SharpLink Gaming Could Expand Ethereum Holdings Amid Recent Staking Gains and Market Volatility July 29, 2025 (https://en.coinotag.com/sharplink-gaming-could-expand-ethereum-holdings-amid-recent-staking-gains-and-market-volatility/)
