SharpLink Buys 83,561 ETH, Becomes No 2 Corporate Holder

- SharpLink Gaming adds $303.7 million in Ethereum holdings. - Total ETH holdings now exceed 521,000, worth $1.9 billion. On August 5, 2025, *The Block* reported that SharpLink Gaming spent $303.7 million to purchase 83,561 ETH between July 28 and August 3, 2025. The purchase brings the total holdings of the Nasdaq-listed firm, chaired by Ethereum co-founder Joe Lubin, to 521,939 ETH, valued at $1.9 billion. To fund the purchase, SharpLink sold 13.6 million shares of common stock between July 28 and August 1. This equity offering generated net proceeds of $264.5 million, which the company used to expand its Ethereum treasury, according to its filings with the Securities and Exchange Commission. With this acquisition, SharpLink has rapidly become the second-largest known corporate holder of Ethereum globally, ranking behind BitMine Immersion Tech and ahead of The Ether Machine. In addition, the firm actively stakes its Ethereum holdings, generating 929 ETH in rewards since initiating its treasury strategy on June 2. To measure its strategy's value for shareholders, SharpLink employs an "ETH Concentration" metric, which mirrors the "BTC Yield" metric that Bitcoin-focused corporations commonly use. According to market data, Ethereum (ETH) was trading at $3,591.65 as of 15:08 UTC on August 5. This price reflects a 1.45% decrease over the last 24 hours, while trading volume increased by 29.63%.