SharpLink Gaming has strengthened its position as one of the world’s largest corporate holders of Ethereum, after disclosing another massive purchase last week.
The Minneapolis-based company revealed it had acquired $252 million worth of ETH, raising its total reserves to 797,704 Ether — currently valued at about $3.7 billion. The expansion was funded through $360.9 million raised via its at-the-market (ATM) equity program. In addition, SharpLink still has $200 million in cash earmarked for further accumulation.
Co-CEO Joseph Chalom said the company’s treasury play underscores its commitment to both investors and Ethereum itself, describing the program as “a regimented execution” that supports the broader ecosystem while building long-term shareholder value.
Rapid Growth Since June
SharpLink’s treasury strategy was first unveiled in June, and in just four weeks the company’s holdings have surged from 438,000 ETH to nearly 800,000 ETH. The firm’s latest acquisition added 56,533 ETH at an average price of $4,462.
The company also introduced a new metric called “ETH Concentration,” which measures Ethereum held per 1,000 diluted shares outstanding. That figure has now doubled since June, rising above 4.0.
In addition to crypto buys, SharpLink’s board recently approved a $1.5 billion stock buyback program designed to bolster shareholder value while the firm continues building its ETH reserves.
Despite the aggressive strategy, SharpLink’s stock has struggled, closing at $0.96 on Monday — down 6.8% — before edging slightly higher in after-hours trading.
Staking Rewards and Broader Impact
Alongside purchases, SharpLink disclosed that total staking rewards have reached 1,799 ETH since it began locking up tokens this summer. Analysts suggest this additional yield could provide a meaningful revenue stream if the company maintains its holdings long term.
SharpLink’s push reflects a broader trend among corporations integrating Ethereum into treasury strategies, a move once dominated by Bitcoin. The company now ranks among the largest ETH holders worldwide, rivaling some crypto-native treasuries.
Market Predictions
Meanwhile, bullish forecasts for ETH continue to surface. Fundstrat’s Tom Lee suggested this week that Ether has found its bottom around $4,300, pointing to “very good risk/reward” levels for a rebound toward $5,400. His comments followed news that BitMine Immersion Technologies — another ETH-heavy treasury — added $21 million worth of tokens, bringing its reserves to 1.72 million ETH, valued at about $7.5 billion.
As institutional demand intensifies, Ethereum’s price movements will likely hinge not only on market sentiment but also on how aggressively companies like SharpLink and BitMine continue building their treasuries.
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Source: https://coindoo.com/sharplink-snaps-up-252m-in-ethereum-nears-800000-tokens/