SharpLink Gaming Grows ETH Treasury to 859,853 After $76.5M Raise
SharpLink Gaming has expanded its Ethereum treasury to 859,853 ETH (≈$3.5 billion) after completing a $76.5 million capital raise to acquire 19,271 ETH at an average cost of $3,892. Since launching its corporate Ethereum treasury strategy on May 27 with a $425 million private‐equity investment, the firm’s staking operations have generated 5,671 ETH in rewards (≈$22 million). As the first publicly traded company to prioritise ETH in its corporate treasury, SharpLink’s share price has gained over 450% in six months, despite a 2.1% dip on the latest announcement and a 66% drop from July highs. By staking ETH on Ethereum’s Proof-of-Stake network, the company converts holdings into yield-producing assets while supporting network security, underscoring rising institutional Ethereum treasury adoption.
Bullish
By increasing its Ethereum treasury through a $76.5 million capital raise and capturing staking rewards, SharpLink signals strong institutional demand for ETH. The added treasury and locked-up ETH reduce circulating supply while generating predictable yields, which can attract short-term trading momentum. Over the long term, this high-profile corporate commitment to ETH treasuries is likely to encourage more firms to follow suit, reinforcing bullish pressure on Ethereum’s market dynamics.