SharpLink Gaming, now the second-largest corporate holder of Ether, has added another 77,210 ETH—valued at $295 million—to its growing crypto treasury, signaling continued confidence in its digital asset strategy.
This latest purchase surpasses the Ethereum network’s net issuance over the past 30 days, which totaled 72,795 ETH, according to Ultra Sound Money. A majority of the newly acquired ETH has been staked to generate rewards.
With this acquisition, SharpLink’s total Ether holdings have climbed above 438,000 ETH, currently valued at over $1.69 billion, based on data from Lookonchain.
SharpLink has become the second company to hold over $1.5 billion worth of ETH in its treasury, trailing only Bitmine Immersion Tech, whose ETH holdings have surpassed $2 billion.
“Banks close on weekends. Ethereum runs 24/7,” the company noted in a post on X this Sunday, emphasizing the advantages of blockchain over traditional finance.
As reported by Cointelegraph on July 18, SharpLink recently filed an amended prospectus with regulators, aiming to boost its stock sale target from $1 billion to $6 billion. The firm plans to allocate the majority of the proceeds toward further ETH purchases.
Talent acquisition spree
On Friday, SharpLink announced the appointment of Joseph Chalom as its new co-CEO.
Chalom brings two decades of experience from BlackRock, the world’s largest asset management firm. At SharpLink, he will lead the development and execution of the company’s global strategy.
This move follows the company’s nomination of Consensys CEO Joseph Lubin as chairman of its board of directors in May.
Ether supply shock
Corporate and institutional purchases of ETH—especially through ETFs—can contribute to a supply squeeze, potentially driving up the asset’s price.
On Thursday, BitMine Immersion Technologies revealed that it now holds over 566,000 ETH, valued at more than $2 billion at the time of the announcement. The company also outlined an ambitious goal: to eventually hold at least 5% of Ethereum’s total supply, which equates to 6 million ETH—worth over $23 billion at current prices.
According to data from Strategic ETH Reserve, corporations and ETFs collectively hold 8.12 million ETH, or 6.73% of the total supply, representing more than $31 billion in value.
