SharpLink Gaming Boosts Ethereum Holdings to 438K ETH with $290M Buying Spree

SharpLink Gaming, Inc. (Nasdaq: SBET), recognized for its aggressive Ethereum accumulation strategy, has confirmed it now holds approximately 438,190 ETH as of July 27, 2025.

NEW: SharpLink now holds ~438,190 ETH

Between July 21–27, SharpLink acquired ~77,210 ETH for ~$290M at an average price of ~$3,756

ETH-per-share (“ETH Concentration”) is now ~3.40, up from ~3.06 last week, and ~70% since we began the strategy on June 2nd

Cumulative staking… pic.twitter.com/4H9DYQ0Ukv

— SharpLink (SBET) (@SharpLinkGaming) July 29, 2025

During the week of July 21–27, the company acquired 77,209.58 ETH, spending approximately $290 million at an average purchase price of $3,756 per ETH. This represents a 21% increase from the previous week’s balance of 360,807 ETH. According to SharpLink’s latest capital summary, this acquisition is part of the company’s aggressive treasury strategy launched in early June, rapidly expanding its digital asset holdings.

Staking Rewards and Strategic Intent

In addition to purchases, SharpLink continues to earn staking rewards, adding 0.2K ETH in the week ending July 27. This brings cumulative staking rewards to 722 ETH since the strategy began on June 2, 2025. The company’s ETH concentration—measuring ETH relative to its overall capital structure—rose to 3.40, up from 3.06 the previous week, marking a 70% increase since the program’s inception.

Capital Raised Through ATM Facility

To support its buying spree, SharpLink raised $279.2 million in net proceeds through its at-the-market (ATM) share issuance facility during July 21–25. A total of 10.8 million shares were issued during that week alone, following a prior issuance of 3.8 million shares the week before. This reflects growing investor confidence in SharpLink’s strategy. Since the start of July, SharpLink has raised over $850 million through ATM issuance, enabling continued Ethereum purchases without relying heavily on external financing or leverage.

Leadership and Vision Going Forward

Joseph Chalom, former digital asset strategist at BlackRock, officially became Co-CEO of SharpLink on July 24. Commenting on his new role, Chalom stated:

“I see a powerful opportunity to help shape the future of financial infrastructure and decentralized finance. SharpLink’s commitment to aligning its strategic direction with the Ethereum ecosystem resonates with my passion for digital assets and scaling innovation in global finance. I’m thrilled to be leading SharpLink into its next phase.”

SharpLink Becomes Largest Public Holder of Ethereum

SharpLink Gaming is now the leading public company holder of Ethereum, controlling 360,807 ETH, valued at approximately $1.33 billion, according to analytics platform CoinGecko. What distinguishes SharpLink is not only the size of its ETH treasury but also its utilization: over 95% of its Ethereum is either staked or deployed via liquid staking platforms.

$SBET Price Action

SharpLink Gaming’s stock, trading under the ticker SBET, has surged over the past month, rising by 110.73% to $20.92. The rapid increase from around $10 at the beginning of July to a peak above $35 mid-month indicates heightened investor interest, possibly driven by speculative momentum or expectations of strategic developments. Although the price has cooled since the peak, it remains significantly above early-July levels.

Frequently Asked Questions (FAQ)

SharpLink Gaming's Ethereum Holdings

Q: What is SharpLink Gaming's current Ethereum holding? A: As of July 27, 2025, SharpLink Gaming holds approximately 438,190 ETH. Q: How much Ethereum did SharpLink Gaming acquire recently? A: Between July 21–27, SharpLink Gaming acquired 77,209.58 ETH. Q: What was the average purchase price for this recent Ethereum acquisition? A: The average purchase price was $3,756 per ETH. Q: How much capital did SharpLink Gaming raise to fund these acquisitions? A: SharpLink Gaming raised $279.2 million in net proceeds through its at-the-market (ATM) share issuance facility during the week of July 21-25. Q: What is SharpLink Gaming's ETH concentration? A: Their ETH concentration has risen to 3.40, indicating a significant portion of their capital is held in ETH. Q: How is SharpLink Gaming utilizing its Ethereum holdings? A: Over 95% of their Ethereum is either staked or deployed via liquid staking platforms. Q: Who is the new Co-CEO of SharpLink Gaming? A: Joseph Chalom, formerly a digital asset strategist at BlackRock, became Co-CEO on July 24. Q: How has SharpLink Gaming's stock (SBET) performed recently? A: The stock has surged over 110.73% in the past month.

Crypto Market AI's Take

SharpLink Gaming's aggressive Ethereum accumulation strategy highlights a growing trend among public companies to diversify their treasury holdings into digital assets, particularly Ethereum, due to its staking potential and role in the evolving decentralized finance landscape. This move positions SharpLink as a significant institutional player within the Ethereum ecosystem. For investors and businesses looking to navigate this trend, understanding AI-driven market analysis and automated trading strategies is becoming increasingly crucial. Our platform at Crypto Market AI offers sophisticated tools and insights, including AI crypto trading bots and comprehensive market intelligence, to help you make informed decisions in this dynamic market.

SharpLink Gaming Secures 438K ETH with 90M Buying Spree