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Gambling marketer turned Ethereum treasury company SharpLink Gaming boosted its $ETH holdings last week, adding around $252 million in Ethereum to its stash, the firm announced Tuesday.
SharpLink added 55,463 $ETH at an average price of $4,462, the firm said. The additions bring its total haul to 797,704 $ETH valued at $3.6 billion based on the current price of Ethereum.
“Our regimented execution of SharpLink’s $ETH treasury strategy continues to demonstrate the strength of our vision and the commitment of our team,” said SharpLink co-CEO Joseph Shalom in a statement.
“With nearly 800,000 $ETH now in reserve and strong liquidity available for further $ETH acquisitions," he added, "our focus on building long-term value for our stockholders while simultaneously supporting the broader Ethereum ecosystem remains unwavering.”
NEW: SharpLink acquired 56,533 $ETH at ~$4,462. As of 8/26/2025 we hold 797,704 $ETH valued at ~$3.7B
Key Highlights for the Week Ending August 24, 2025:
• $360.9M in net proceeds were raised through the ATM facility this past week.
• Total staking rewards rose to 1,799 $ETH… pic.twitter.com/Kb4AKulf6f— SharpLink (SBET) (@SharpLinkGaming) August 26, 2025
The Minneapolis-based firm raised around $360 million via its at-the-money facility last week to buy Ethereum and maintains around $200 million in cash to buy $ETH, according to its statement.
SharpLink is among a handful of Ethereum treasury companies racing to gobble up the second largest crypto asset, now holding around 0.61% of the total $ETH supply and only trailing Tom Lee’s BitMine Immersion Technologies among publicly traded firms. BitMine holds more than double the amount of $ETH as SharpLink, with about $7.7 billion worth as present.
The firm has publicly stated a goal of acquiring 1 million $ETH as its first major milestone, a goal which is around 79% completed as of Tuesday morning. In a Myriad market on Linea, 54% of respondents believe that SBET will reach this goal by September 16. Those odds have dropped 13% in the past 24 hours, despite the recent $ETH purchases.
(Disclosure: Myriad is a prediction market and engagement platform developed by Dastan, parent company of an editorially independent Decrypt.)
Shares of SBET have jumped about 1% on Tuesday to change hands at $19.35. The firm’s stock has sunk more than 7% over the past month, despite Ethereum's 19% gain for the same period.
$ETH was trading at $4,520, down more than 2% over the past 24 hours, although it hit a record high above $4,900 over the weekend. The second-largest asset by market value has benefited from the rise of treasuries and exchange-traded funds focused on the asset.