SharpLink Gaming has significantly expanded its cryptocurrency portfolio, acquiring an additional 83,561 Ethereum (ETH) for $264.5 million in the past week. This strategic purchase brings the company’s total Ethereum holdings to 521,939 ETH, representing a value nearing $1.9 billion at current prices.
The move underscores a growing trend of publicly traded companies directly adding digital assets like Ethereum to their corporate treasuries. SharpLink’s stock price has responded positively, surging by over 420% since the firm initiated its Ethereum treasury strategy earlier this year.
Currently valued at approximately $3,631, Ethereum remains substantially below its all-time high of $4,878 achieved in 2021, indicating significant potential upside from past peaks. Increased institutional confidence is evident, with net inflows into Ethereum exchange-traded products exceeding $9.5 billion.
SharpLink’s accumulation strategy aligns with other Nasdaq-listed firms, including BitMine Immersion, which reports holdings exceeding 833,000 ETH valued at over $3 billion. This trend highlights institutional adoption of Ethereum as a legitimate treasury asset class.