SharpLink Gaming has expanded its Ethereum reserves to 205,634 ETH, valued at over $527 million, as part of a strategic initiative to enhance shareholder value. The company acquired an additional 7,689 ETH between June 28 and July 4, signaling intensified commitment to cryptocurrency assets.
The announcement triggered a nearly 26% surge in SharpLink’s stock (NASDAQ: SBET), reflecting strong investor confidence. Concurrently, the firm introduced its proprietary ‘ETH Concentration’ metric to provide shareholders with transparent insights into how cryptocurrency holdings impact equity valuation.
Ethereum recently traded at approximately $2,565, showing modest gains of 1% over 24 hours and 6% over the past month, though remaining 48% below its all-time peak. SharpLink’s accumulation strategy aligns with a growing trend of public companies leveraging cryptocurrency reserves to bolster long-term returns.