In a bold move reinforcing its position as a leading corporate holder of Ethereum, U.S.-listed gaming company SharpLink Gaming has announced the acquisition of nearly 9,500 additional ETH, bringing its total holdings close to 200,000. The strategic purchase underscores a growing trend among public companies leveraging digital assets to reshape their financial foundations and long-term growth strategies.
Major Ethereum Accumulation Amid Market Volatility
SharpLink Gaming revealed on July 1, 2025, via its official X account that it acquired approximately 9,468 ETH between June 23 and June 30, spending roughly $22.8 million** at an average price of **$2,411 per ETH. This latest buy-in increases the company’s total Ethereum treasury to 198,167 ETH, solidifying its reputation as the so-called “MicroStrategy of Ethereum.”
“NEW: At SharpLink, we have increased our total ETH holdings to 198,167. Between June 23rd and June 30th, we've acquired ~9,468 ETH for ~$22.8M at an average price of ~$2,411 per ETH.”
— SharpLink Gaming (@SharpLinkGaming)
The announcement comes during a period of heightened institutional interest in Ethereum, especially following recent network upgrades that improved scalability and reduced transaction costs. By doubling down on ETH, SharpLink is signaling strong confidence in Ethereum’s role as a foundational layer for the future of digital economies.
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Strategic Fundraising Supports Continued ETH Acquisition
To fund this latest acquisition and support future purchases, SharpLink utilized its At-The-Market (ATM) equity offering program, raising an additional $24.4 million by issuing approximately 2.5 million shares. This flexible financing mechanism allows companies to raise capital incrementally without significantly impacting stock prices.
According to the company, the majority of these funds will be allocated toward further Ethereum accumulation, aligning with its long-term vision of building a resilient, crypto-backed balance sheet. This strategy mirrors approaches taken by Bitcoin-focused firms like MicroStrategy and Tesla but with a clear emphasis on Ethereum’s utility and staking yield potential.
Full Staking Implementation Generates Passive Yield
One of the key differentiators in SharpLink’s approach is its commitment to staking all held Ethereum. As of June 30, 2025, the company confirmed that its entire ETH holdings are actively staked on the Ethereum network.
Since initiating its staking strategy on June 2, 2025, SharpLink has already earned approximately 222 ETH in staking rewards—a figure expected to grow steadily as more blocks are validated and network participation continues.
This passive income stream not only enhances shareholder value over time but also demonstrates a sophisticated understanding of Ethereum’s proof-of-stake consensus mechanism. Unlike simply holding crypto as a speculative asset, staking transforms digital holdings into income-generating instruments.
Leadership Vision: Ethereum as Strategic Digital Currency
Joseph Lubin, co-founder of Ethereum and Chairman of SharpLink Gaming, emphasized the broader implications of this strategy:
“We are entering a new era where digital assets like Ethereum are no longer speculative tools but rapidly becoming strategic currencies in the modern digital economy. By integrating Ethereum at the core of our capital strategy, we’re not just optimizing SharpLink’s balance sheet—we’re positioning the company for global leadership in digital commerce.”
Lubin’s vision reflects a growing belief among tech and finance leaders that blockchain-based assets will play a central role in next-generation financial systems, decentralized applications, and tokenized business models.
Rob Phythian, CEO of SharpLink Gaming, echoed this sentiment:
“Ethereum is more than a financial asset—it’s the financial infrastructure we believe in for next-generation capital management and online gaming. We’re committed to partnering with experienced firms like Elevate IR to ensure our story, strategy, and shareholder value proposition are clearly communicated.”
Investor Relations Upgrade: Elevate IR Onboarded
In line with its maturing corporate strategy, SharpLink announced it has formally engaged Elevate IR, a leading financial communications and capital markets advisory firm, as its official Investor Relations (IR) agency.
Elevate IR will work closely with SharpLink’s executive team to develop and execute a comprehensive IR and communication plan tailored to the company’s evolving priorities. This includes outreach to institutional investors, media engagement, earnings commentary, and strategic narrative development around its Ethereum treasury and staking operations.
This move signals SharpLink’s intent to operate with greater transparency and professionalism, addressing investor concerns and improving market perception—especially important given recent stock performance challenges.
SBET Stock Performance Lags Behind Crypto Holdings
Despite the aggressive Ethereum accumulation and strategic upgrades, SharpLink’s stock (SBET) has yet to reflect a strong market rebound. As of July 1, 2025, SBET traded at $9.69**, with a market cap of approximately **$615 million, down 2.57% during after-hours trading.
This disconnect between on-chain activity and stock price is not uncommon in the emerging space of corporate crypto treasuries. While companies accumulate valuable digital assets, traditional investors often remain cautious due to volatility concerns, accounting complexities, and regulatory uncertainty.
However, history shows that markets eventually recognize long-term value. Firms like MicroStrategy saw similar skepticism early in their BTC accumulation phase—only to later experience significant revaluation as Bitcoin’s institutional adoption accelerated.
FAQ: Frequently Asked Questions
Q: How much Ethereum does SharpLink Gaming currently hold?
A: As of June 30, 2025, SharpLink Gaming holds 198,167 ETH, following its latest purchase of ~9,468 ETH.
Q: Did SharpLink Gaming finance the purchase through debt or equity?
A: The company raised $24.4 million via its At-The-Market (ATM) equity program, selling about 2.5 million shares to fund future ETH acquisitions.
Q: Is SharpLink earning yield from its Ethereum holdings?
A: Yes. All of SharpLink’s ETH is staked on the Ethereum network. Since June 2, 2025, it has earned approximately 222 ETH in staking rewards.
Q: Who is behind SharpLink Gaming’s Ethereum strategy?
A: Joseph Lubin, Ethereum co-founder and Chairman of SharpLink, is a key architect of the strategy. CEO Rob Phythian leads execution.
Q: Why is staking important for corporate Ethereum holders?
A: Staking generates passive income through network validation rewards. It turns static holdings into productive assets while supporting blockchain security.
Q: Has SBET stock benefited from the ETH purchases?
A: Not yet. Despite growing ETH reserves, SBET remains under pressure at ~$9.69 as of early July 2025. Market sentiment may take time to align with on-chain fundamentals.
Final Thoughts: A Long-Term Play on Digital Asset Adoption
SharpLink Gaming’s continued accumulation of Ethereum—now nearing the symbolic 200K ETH mark—positions it as one of the most prominent corporate advocates for programmable blockchain assets. With full staking activation, professional investor relations support, and leadership deeply embedded in the Web3 ecosystem, the company is building a compelling case for digital-native treasury management.
While short-term stock performance remains subdued, the long-term trajectory suggests that as Ethereum adoption grows and institutional frameworks mature, companies like SharpLink could see significant revaluation.
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