SharpLink Expands ETH Reserves to 740,760, Ranks Second
SharpLink Gaming has increased its ETH treasury from 728,804 to 740,760 ETH, investing over $3.4 billion in Ethereum. Last week’s purchase of 143,593 ETH at an average price of $4,648 cements its position as the second-largest corporate ETH treasury, trailing only BitMine Immersion’s 1.5 million ETH. The company raised $146.5 million via an at-the-market facility and $390 million through a direct offering, retaining $84 million in cash for future ETH treasury builds. Since June, its ETH concentration metric climbed 94% to 3.87 ETH per 1,000 diluted shares, while staking rewards have reached 1,388 ETH. This move underlines growing corporate crypto holdings and staking demand, potentially adding bullish momentum to Ethereum’s market dynamics.
Bullish
SharpLink’s substantial additions to its ETH treasury reflect strong corporate demand for Ethereum, reducing liquid supply. The large-scale acquisition and ongoing staking rewards indicate sustained buying pressure. In the short term, the increased treasury purchases may support ETH prices amid heightened corporate activity. Over the long term, growing ETH concentration metrics and institutional interest could drive further bullish momentum, as treasury management strategies become more prevalent and network fundamentals strengthen.