SharpLink Gaming (ticker: SBET) has significantly expanded its Ethereum holdings, acquiring 39,008 ETH at an average price of approximately $4,531.
With this latest purchase, the company’s cryptocurrency reserve now totals 837,230 ETH, valued at roughly $3.6 billion.
Since early June, SharpLink has been aggressively accumulating Ethereum as part of a strategic initiative. Over this period, the company has earned 2,318 ETH in staking rewards. The ETH Concentration indicator, which measures the ratio of the company’s crypto assets to its market capitalization, has risen to 3.94.
Last week, SharpLink raised $46.6 million through an at-the-market equity offering program. The company still holds $71.6 million in cash reserves, which remain unallocated.
SharpLink is among the first publicly traded companies to adopt an Ethereum accumulation strategy, mirroring the Bitcoin-focused approach pioneered by Michael Saylor. The company’s shift in focus comes under the leadership of Joe Lubin, Ethereum co-founder and CEO of Consensys, a leading infrastructure provider in the Ethereum ecosystem.
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This move underscores SharpLink’s commitment to integrating blockchain technology and positioning itself as a key player in the evolving digital asset landscape.
Author: Slava Vasipenok
Founder and CEO of QUASA (quasa.io) - Daily insights on Web3, AI, Crypto, and Freelance. Stay updated on finance, technology trends, and creator tools - with sources and real value.
Innovative entrepreneur with over 20 years of experience in IT, fintech, and blockchain. Specializes in decentralized solutions for freelancing, helping to overcome the barriers of traditional finance, especially in developing regions.
This is not financial or investment advice. Always do your own research (DYOR).
