SharpLink Gaming has significantly increased its Ethereum reserves by acquiring 31,941 ETH worth $108.6 million during a recent market downturn. The transactions were executed through Galaxy Digital’s over-the-counter (OTC) desk using USDC stablecoin.
The acquisition elevates SharpLink’s total Ethereum holdings to over 470,000 ETH, cementing its position as the world’s second-largest corporate ETH holder behind BitMine. This purchase aligns with SharpLink’s consistent accumulation strategy, with its wallet address having previously secured over $800 million worth of ETH.
Corporate Ethereum reserves now collectively exceed $10 billion across major holders globally. BitMine maintains the largest position with 625,000 ETH. SharpLink capitalized on Ethereum’s price correction to execute this strategic buy, reinforcing its long-term investment thesis in the cryptocurrency.