SharpLink Gaming Skyrockets 28% – Half-Billion Dollar ETH Stash Fuels Rally

Gaming stock turns crypto whale overnight as Ether holdings eclipse $533M.

From penny stock to crypto heavyweight

SharpLink's share price ripped 28% higher after revealing a nine-figure Ethereum position – because nothing says 'gaming company' like becoming an accidental crypto fund. The market clearly approved, though analysts whispered about diversification strategies that look suspiciously like gambling.

When your altcoin bag outshines your core business

The rally proves Wall Street still drools over crypto exposure – even when it's stumbled upon like loose change in a corporate couch. Meanwhile, traditional gaming revenue? Crickets. But hey, in 2025, why build products when you can ride ETH's coattails?

*Another day, another company discovering their balance sheet mooned harder than their actual operations.*

TLDR

• SharpLink Gaming bought 7,689 Ether for $19.2 million, bringing total holdings to 205,634 ETH worth $533 million
• Company stock jumped 28% after announcing the purchase on Tuesday
• SharpLink raised $64 million through share sales to fund more Ether purchases
• All company ETH holdings are staked, earning 322 ETH ($848,750) in rewards since June 2
• Company introduced ETH Concentration metric to track Ether exposure relative to equity structure

SharpLink Gaming shares closed Tuesday trading up over 28% after the sports betting company announced it acquired 7,689 Ether tokens for approximately $19.2 million. The purchase brought the company’s total Ether holdings to 205,634 ETH, valued at more than $533 million.

The Minneapolis-based online gaming firm completed the buying spree between June 28 and July 4, paying an average price of $2,501 per token. SharpLink shares jumped to $16.29 at market close and continued rising 4.36% in after-hours trading to $17.

This latest purchase represents part of SharpLink’s strategy to build an Ethereum-focused corporate treasury. The company has committed all of its Ether holdings to staking and restaking protocols to generate yield.

NEW: SharpLink now holds ~205,634 ETH

Between June 28 and July 4, SharpLink acquired ~7,689 ETH for ~$19.2M at an average price of ~$2,501 per ETH

During that same period, the company raised an additional ~$64.2M through its ATM facility, selling ~5.4M shares

SharpLink has… pic.twitter.com/bhS0K1ZBul

— SBET (SharpLink Gaming) (@SharpLinkGaming) July 8, 2025

Since beginning its staking program on June 2, SharpLink has earned 322 ETH in rewards, currently worth around $848,750. The company stakes its entire Ether position to maximize returns from its cryptocurrency treasury strategy.

Funding Strategy Through Share Sales

During the same period as the Ether purchases, SharpLink raised $64 million in net proceeds by selling over 5.4 million shares. The company plans to use a large portion of this capital to acquire more Ether in the coming days.

On May 30, SharpLink announced plans to sell up to $1 billion in common shares. Most proceeds from these sales are intended to acquire Ether, following the company’s shift toward an Ethereum-focused treasury strategy announced on May 27.

The company’s stock previously rallied 7% to $9.66 on June 25 after announcing a $30 million Ether purchase that raised total holdings to 188,000 tokens. However, shares plunged 73% in after-hours trading on June 12 due to confusion around a regulatory filing for potential share resales.

SharpLink has introduced a new metric called ETH Concentration to help shareholders track the company’s Ether exposure relative to its equity structure. This figure has grown to 2.37 ETH per 1,000 diluted shares outstanding from 2.00 ETH three weeks earlier.

Joseph Lubin, SharpLink’s chairman and ethereum co-founder, said the company was “continuously refining our treasury strategy.” He attributed the company’s success to disciplined execution of its ETH-focused treasury management approach.

Broader Corporate Crypto Adoption

Other companies have also shifted toward cryptocurrency treasury strategies, though most focus on Bitcoin rather than Ether. Digital asset company Bit Digital pivoted from Bitcoin to Ether on Monday, selling 280 Bitcoin to acquire more Ether for its treasury.

Chinese microchip firm Nano Labs began implementing its plan to hold up to 10% of BNB’s total circulating supply, purchasing $50 million worth on July 3. These moves reflect growing corporate interest in cryptocurrency treasury strategies.

SharpLink’s approach differs from most corporate crypto strategies by focusing exclusively on Ether rather than Bitcoin. The company’s staking program allows it to generate additional returns from its cryptocurrency holdings while maintaining its treasury position.

The company spent approximately $19.2 million on its latest Ether purchase at an average price of $2,501 per token, with Ether currently trading at $2,591.