SharpLink Snaps Up 143,593 More ETH
SharpLink Gaming (SBET) executed on its Ethereum strategy last week, buying 143,593 ETH for $667.4M at an average price of $4,648. The purchase came just as ETH traded near record highs.
What’s the Scoop?
- Big Buy: SharpLink now holds 740,760 ETH, valued around $3.2B at current prices.
- Staking Play: The company disclosed 1,388 ETH in staking rewards, with nearly all holdings deployed in Ethereum’s proof-of-stake network, including through liquid staking.
- GAAP Hit: The buy comes shortly after SharpLink reported a $103M Q2 net loss, most of which came from mark-to-market crypto losses with ETH prices of $2.3k at quarter close.
- Competitive Landscape: Rival BitMine bought 373,000 ETH last week, boosting its stash to 1.52M ETH worth $6.6B.
Bankless Take:
SharpLink and BitMine are lapping the DAT pack as they scoop up billions of dollars of Ether. SBET shares, which are intrinsically linked to ETH, continue to fall this week alongside lower crypto prices, having tumbled 20% since the release of Q2 earnings on Thursday.
NEW: SharpLink acquired 143,593 ETH at ~$4,648, bringing total holdings to 740,760 ETH
— SharpLink (SBET) (@SharpLinkGaming) August 19, 2025
Key highlights for the week ending Aug 17, 2025:
→ Raised $537M through ATM and direct offerings
→ Added 143,593 ETH at ~$4,648 avg. price
→ Staking rewards: 1,388 ETH since June 2 launch… pic.twitter.com/GSe6XzSAwW