SharpLink Gaming Doubles Down: Snaps Up 16,374 ETH ($49M) in Bold Crypto Bet

Gaming giant SharpLink just dropped $49 million on Ethereum—because apparently, traditional treasury management is too mainstream.

The Play:
While CFOs were busy hedging fiat, SharpLink quietly became one of the largest corporate ETH holders overnight. That’s 16,374 coins added to their stack, according to on-chain records.

Why It Matters:
This isn’t pocket change—it’s a strategic move. Either they know something about Ethereum’s roadmap we don’t, or they’re tired of watching bonds yield less than a savings account.

The Punchline:
Wall Street still thinks crypto’s a casino. Meanwhile, gaming companies are out here making eight-figure bets with house money. Who’s gambling now?

While SharpLink hasn’t officially confirmed the buy, blockchain tracker EmberCN says this latest MOVE pushes the company’s total ETH holdings to approximately 270,000 ETH. Just last Friday, SharpLink had acquired 21,487 ETH worth $63.7 million, sending its stock price up by over 17%, closing at $21.65.

SharpLink’s Ethereum strategy began in late May following a $425 million private placement led by Consensys. Ethereum co-founder and Consensys CEO Joseph Lubin is now SharpLink’s chairman. The firm, once a Minneapolis-based iGaming and affiliate-marketing company, is rapidly transforming into a crypto treasury powerhouse.

Lubin explained that SharpLink is buying, staking, and restaking ETH to support the long-term health of the Ethereum ecosystem. “We’re removing ETH from circulation, reinforcing decentralization and network strength,” he said.

The price of Ethereum also saw a modest 1.2% gain over the past 24 hours, now trading at around $2,981, its highest level since February. With over 270,000 ETH under its belt, SharpLink is quickly emerging as one of the biggest institutional players backing Ethereum’s future.

Also Read: Ethereum ETFs Record $908M Weekly Inflows as ETH price Breaks $3,000