SharpLink Gaming Acquires Record-Breaking 79,949 ETH, Surpasses $1.3 Billion in Ether Holdings
SharpLink Gaming, a leading sports betting and digital marketing firm based in Minnesota, has made a significant impact in the cryptocurrency market by acquiring an unprecedented 79,949 ETH. This landmark transaction has positioned SharpLink as the largest public holder of Ethereum, surpassing competitors like BitMine Immersion Technologies.
Setting a New Standard
During the week ending on July 20, 2025, SharpLink Gaming executed this historic purchase, securing nearly $259 million worth of ETH at an average price of $3,238 per token. The acquisition has substantially strengthened SharpLink’s balance sheet, increasing their total ETH holdings to 360,807, marking an impressive 29% surge from the previous week.
Strategic Treasury Expansion
Driven by its forward-thinking digital treasury strategy unveiled on June 2, 2025, SharpLink has been strategically accumulating ETH reserves during favorable market conditions. In addition to the recent acquisition, the company also made another significant purchase of 24,371 ETH valued at approximately $73.25 million on Coinbase Prime, a reputable platform for large institutional crypto transactions.
With its ETH concentration now at 3.06%, a 53% increase since the inception of its digital treasury strategy, SharpLink remains committed to further expanding its crypto holdings. The company has allocated $96.6 million for additional ETH acquisitions, underscoring its confidence in the long-term potential of Ethereum.
Embracing Staking for Growth
Parallel to its acquisition strategy, SharpLink has ventured into staking its assets, with the initiative already yielding 567 ETH in staking rewards. This dual approach not only enhances the company’s Ethereum reserves but also generates passive income while contributing to the stability of the Ethereum network.
Expert Insights from Sam Boolman, ChainIntel’s Lead Analyst
According to Sam Boolman, ChainIntel’s lead analyst, “SharpLink’s strategic acquisition of ETH showcases the company’s optimistic view on Ethereum’s future growth potential. By fortifying its digital treasury and embracing staking, SharpLink is well-positioned to benefit from the increasing adoption and momentum of Ethereum in the evolving crypto landscape.”
Regulatory Clarity and Confidence
Joseph Lubin, Chairman of SharpLink and a prominent figure in the crypto space as the Co-Founder of Ethereum and CEO of Consensys, emphasized the company’s commitment to reducing its ETH reserve at favorable prices to support its long-term objectives and enhance investor value. Lubin also highlighted the significance of the Genius Act, signed into law by President Donald J. Trump, which provides clear guidelines for digital assets and smart contracts in the U.S.
Lubin’s endorsement of the Genius Act reflects SharpLink’s positivity towards the regulatory landscape, anticipating increased institutional and investor interest in blockchain and crypto assets. The company views the legislation as a catalyst for advancing its digital asset utilization strategy and fostering industry growth.
Looking Ahead
SharpLink Gaming’s bold ETH acquisition signals a strong vote of confidence in Ethereum’s future trajectory. With a clear regulatory framework and ample resources, SharpLink is poised to continue expanding its crypto portfolio, leveraging staking opportunities, and driving sustained growth in the crypto sector.
