SharpLink Gaming has significantly expanded its Ethereum reserves with a $30.7 million purchase of 12,207 ETH, amplifying its earlier acquisition of 176,271 ETH for $462.9 million. The gaming company additionally raised $27.7 million through common stock sales exclusively dedicated to bolstering its Ethereum treasury holdings.
Chairman Joseph Lubin reinforced SharpLink’s commitment to blockchain technology, stating the strategy demonstrates ‘confidence in blockchain technologies’ aimed at creating sustainable long-term value. Lubin emphasized leveraging decentralized systems to drive shareholder returns.
This corporate accumulation coincides with heightened institutional activity, including buying from ConsenSys-associated wallets, contributing to Ethereum’s market dynamics. ETH surged over 7% in 24 hours amid increased trading volume and institutional inflows.
SharpLink’s strategy exemplifies a growing corporate trend of cryptocurrency treasury diversification, signaling broader institutional validation of digital assets as portfolio components and potentially accelerating mainstream adoption.