SharpLink Gaming recently reported a significant Ethereum purchase, highlighting the growing interest in this cryptocurrency as a treasury asset.
SharpLink's ETH Acquisition
SharpLink Gaming acquired 143,593 ETH for $667.4 million between August 10 and August 17, 2025, averaging $4,648 per ETH. This information was disclosed in a filing with the U.S. Securities and Exchange Commission.
Available Assets and Staking Income
As of August 17, SharpLink held 740,760 ETH, worth approximately $3.2 billion. Nearly all of the company's ETH is staked, allowing for passive income generation. Since the launch of staking, the company has earned 1,388 ETH.
SharpLink's Stock Dynamics
Despite aggressively expanding its Ethereum positions, SharpLink's stock, trading under the SBET ticker, has fallen 19.85% over the past five days. This decline is attributed to the high volatility of Ethereum, which dropped from a multi-year high of $4,788.55 to $4,207.22.
The significant acquisition of ETH underscores SharpLink's strategy, but the high volatility of the cryptocurrency market has negatively impacted the company's stock.
