In a strategic move that flew under the radar of most analysts, the Nasdaq-listed company recently purchased over 83,500 ETH—worth around $304 million—between July 28 and August 3.
This brings its total Ethereum holdings to more than 521,000 ETH, now valued at over $1.9 billion.
The acquisition was funded through stock sales, with SharpLink raising nearly $265 million from issuing 13.6 million new shares. That follows a similarly sized raise just a week earlier, showing the company’s commitment to scaling its Ethereum treasury.
While blockchain sleuths have tried to trace the activity, on-chain estimates haven’t quite caught up to the firm’s disclosed total—highlighting how quickly SharpLink is moving.
The company now holds the second-largest known ETH treasury, trailing only BitMine, which recently revealed a stash of over 833,000 ETH. With this latest move, SharpLink has firmly positioned itself as a serious institutional player in the Ethereum ecosystem.
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Source: https://coindoo.com/sharplink-quietly-buys-300m-in-ethereum-now-a-top-institutional-holder/