Ethereum (ETH) treasury firm SharpLink Gaming has resumed purchasing ETH. The firm made its first ETH purchase since August 2025, acquiring another 19,271 ETH at an average purchase price of $3,892 per ETH.
SharpLink Increases Ethereum Holdings To $3.5 Billion
Minneapolis-based SharpLink Gaming today announced that it had increased its total ETH holdings by 19,271 ETH. The firm’s total ETH holdings now stand at 859,853 ETH, valued at almost $3.5 billion.
The company disclosed that it raised $76.5 million in gross proceeds last week, excluding placement agent fees and other related expenses. These proceeds were used to finance the latest ETH purchase. Commenting, Joseph Chalom, co-founder of SharpLink Gaming, said:
Our top priority remains creating value for shareholders through disciplined execution and a relentless focus on accretive ETH accumulation. The capital raise completed last week was executed at a premium to NAV. Shortly thereafter, we took advantage of attractive market conditions to acquire ETH at prices lower than when we raised the capital. This sequence was immediately accretive to shareholders and showcases the precision of our strategy.
The Nasdaq-listed firm also shared that its total ETH staking rewards had increased to 5,671. To recall, SharpLink Gaming had started its ETH-focused corporate treasury strategy in June 2025.
The company also reported a 100% increase in Etheruem Concentration. The metric surged to 4.0, up 100% since June 2025.
For the uninitiated, Ethereum concentration measures how much ether SharpLink holds per 1,000 assumed diluted shares, offering insight into the company’s crypto exposure relative to its total potential equity base. It’s calculated by dividing total ETH holdings (including LsETH) by all issued and potentially issuable shares, without using the treasury stock method or accounting for vesting or conversion restrictions.
Following today’s announcement, SharpLink Gaming’s stock SBET is down 2.64%, trading at $14.40 at the time of writing. The stock is up more than 440% over the past six months.
ETH Taking The Limelight From Other Crypto
2025 has seen an unprecedented growth in the number of firms adopting a crypto-focused corporate treasury strategy, not just limited to leading digital assets like Bitcoin (BTC), or ETH.
For instance, NYSE-listed CleanCore Solutions recently announced that its Dogecoin (DOGE) treasury had topped 710 million DOGE. The firm has an aim of adding 1 billion DOGE to its balance sheet.
That said, the rate of Ethereum adoption has surpassed all other digital assets – including BTC – throughout the year. Recently, Ethereum whale BitMine purchased another 203,800 ETH, effectively owning 2.7% of Ethereum’s circulating supply. At press time, ETH trades at $3,988, up 0.8% in the past 24 hours.
