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.
