SharpLink Hits $3.64B Ethereum Treasury After 56K ETH Buy

- SharpLink Gaming raised $360.9 million to purchase 56,533 ETH for $252 million. - The Nasdaq-listed firm authorized a $1.5 billion stock repurchase program amid strategic Ethereum accumulation. SharpLink Gaming, a Nasdaq-listed Ethereum treasury firm based in Minneapolis, expanded its holdings to 797,704 ETH. The company's treasury is now valued at a staggering $3.64 billion. To reach this milestone, SharpLink acquired 56,533 ETH for approximately $252 million in the week leading up to August 26, 2025. SharpLink financed the purchase with $360.9 million in net proceeds, which the company raised through its at-the-market equity facility for the week ending August 24. While aggressively accumulating Ethereum, the company also initiated a $1.5 billion stock repurchase program. This program aims to manage dilution and enhance shareholder value amid ongoing stock price volatility. Ethereum prices surged an impressive 80% over the past 60 days. Despite this, SharpLink’s shares (SBET) have dropped by approximately 65% since early June, highlighting a significant disconnect between the cryptocurrency’s rally and the company’s stock performance. Nevertheless, the firm continues to generate additional value through staking rewards, which now total 1,799 ETH—an equivalent of more than $8 million. This strategic focus on Ethereum accumulation makes SharpLink the second-largest public holder of ETH, trailing only BitMine Immersion, which leads with a treasury of 1.71 million ETH. As of August 22, 2025, corporate Ethereum treasuries collectively reached a value of $12 billion. This growth underscores the increasing confidence and interest from institutional players in the cryptocurrency market.