Sharplink Acquires $264.5 Million in ETH, Boosting Holdings to 521,939

Sharplink Gaming, Inc. acquired 83,561 ether ( $ETH) for $264.5 million last week, increasing its total holdings to 521,939 $ETH.

Sharplink Ether Concentration Jumps 83%

The company, Sharplink Gaming, Inc. (Nasdaq: SBET), funded the purchases entirely through net proceeds from its at-the-market equity facility. Sharplink paid an average price of $3,634 per $ETH between July 28 and August 3.

Total ethereum holdings rose 19% from 438,190 $ETH the prior week. All holdings remain fully staked, with cumulative rewards reaching 929 $ETH since the treasury strategy began on June 2. $ETH-per-share concentration rose to 3.66, up from 3.40 a week earlier. This metric has increased 83% since the strategy’s inception.

Co-CEO Joseph Chalom stated the company is evaluating capital formation options – including debt and equity-linked offerings – to accelerate $ETH accumulation. “Our efforts optimize capital efficiency and reinforce alignment with Ethereum’s role in decentralized finance,” he said.

Minneapolis-based Sharplink ranks among the biggest corporate holders of $ETH, treating it as the crown jewel of its treasury reserves. The company sits just behind Bitmine Immersion Technologies, which controls more than 833,000 ether. While 2025 has been dominated by a wave of bitcoin (BTC) treasury players, altcoin reserves have been gaining serious momentum.

Sharplink’s strategy, like Bitmine’s, the Ether Machine’s, and Bit Digital’s, signals a calculated bet on ethereum’s long-term role in digital finance, blending aggressive accumulation with staking rewards. Its growing position hints at a future where corporate treasuries diversify beyond bitcoin, embracing altcoins as strategic reserve assets.