SharpLink Gaming has bolstered its cryptocurrency reserves by accumulating over 360,000 Ethereum (ETH), now valued at approximately $1.3 billion, as part of its proactive treasury growth strategy. The expansion responds to Ethereum’s sustained price appreciation, positioning the company to capitalize on the asset’s upward trajectory.
With an average acquisition cost of $3,238 per ETH, the holdings represent a significant corporate bet on Ethereum’s long-term value. Investor confidence surged immediately following the announcement, propelling SharpLink’s stock price upwards—spiking over 10% during Tuesday’s trading session and soaring 206% over the past month.
To sustain its ETH acquisition momentum, the firm unveiled a liquidity-focused capital-raising initiative targeting up to $6 billion in funding. This strategy aligns with broader industry shifts, as companies like Bit Digital and BitMine Immersion similarly diversify portfolios with Ethereum investments.
The corporate accumulation trend coincides with record institutional demand for Ethereum exposure. Ethereum exchange-traded funds recorded unprecedented net inflows of $3.57 billion in July, signaling robust market confidence in the asset class despite prevailing market conditions.