SharpLink Gaming (NASDAQ: SBET) has once again elevated its status in the cryptocurrency treasury space, announcing on June 24, 2025, that it now holds 188,478 ETH, making it the largest publicly traded corporate holder of Ethereum. This expansion comes from a strategic acquisition of 12,207 ETH, totaling $30.7 million, transacted between June 16 and June 20 at an average of $2,513 per coin.
To facilitate this purchase, SharpLink tapped its at‑the‑market (ATM) equity program, earning $27.7 million in net proceeds by selling over 2.5 million shares. The company has pledged that the bulk of these funds will be reinvested into its Ethereum holdings, fueling further accumulation.
Since the launch of its ETH-driven treasury initiative on June 2, SharpLink has deployed 100% of its Ethereum into staking, generating 120 ETH in rewards and yielding an impressive 18.97% increase in ETH-per-share. It’s a move that aligns with an emerging trend among public companies—mirroring models popularized by Michael Saylor’s strategy at MicroStrategy—by converting treasury assets into yield-generating digital tokens.
Earlier in the month, SharpLink closed a $425 million private PIPE financing led by ConsenSys, Galaxy Digital, Pantera Capital, and others, marking a major commitment to Ethereum’s long-term utility. As part of this institutional round, Ethereum co-founder Joseph Lubin, also CEO of ConsenSys, took the helm as Chairman of the Board, adding strategic weight to the company’s crypto ambitions.
Lubin emphasized that growing SharpLink’s ETH reserves highlights “our confidence in Ethereum’s utility” and underscores a mission to pioneer blockchain-based value creation for stakeholders. Meanwhile, CEO Rob Phythian reaffirmed their vision: leveraging Web3, decentralized finance, and smart-contract architectures to revolutionize iGaming and treasury management.
In financial terms, this latest buy boosts the intrinsic value of SharpLink’s ETH holdings—estimated at roughly $470 million at current prices —while also deepening their position in blockchain-enabled markets. And with ETH fully staked, SharpLink not only shelters its reserves from volatility but actively compounds them through network rewards.
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