SharpLink Boosts Ethereum Treasury with $360.9 Million Purchase, Strengthening Hold

SharpLink raised $360.9 million through its At-the-Market facility to fund a purchase of 56,533 ETH.

The company’s ETH holdings have grown significantly, reaching a value of $3.7 billion by late August 2025.

Despite a dip in stock price, SharpLink's ETH treasury expansion contributes to its strong financial standing and prospects.

SharpLink has significantly enhanced its Ethereum treasury following the acquisition of 56,533 ETH. This new purchase increases the company's total holdings to around $3.7 billion as of August 24, 2025. The purchase comes after the company raised $360.9 million in net proceeds through its At-the-Market facility. The liquidity generated from this fundraising allowed SharpLink to make the Ethereum purchase, marking a continued push in the firm’s treasury strategy.

SharpLink’s Ethereum strategy, which was initiated on June 2, 2025, has shown exceptional growth. The treasury system of the company revolves around Ethereum, making it one of the biggest corporate investors in the asset. Besides the acquisition, the company also claimed staking rewards in the form of 1,799 ETH, which is indicative of the returns that the firm is netting out of the Ethereum proof-of-stake network.

Staking Rewards Contribute to Growth

SharpLink's staking rewards have been a valuable addition to its Ethereum reserves. The staking rewards have contributed significantly to the company’s growth in digital assets. Since its Ethereum treasury strategy began, the company’s financial position has strengthened. In addition to its growing ETH reserves, SharpLink has about $200 million in cash that is yet to be deployed for further acquisitions or investments.

SharpLink introduced a new metric, ETH Concentration, to provide better transparency in reporting. The company revealed that its ETH concentration on a cash-converted basis has now surpassed 4.00, a significant increase from June’s figure. This metric represents the company’s holdings of Ethereum per 1,000 diluted shares. Additionally, the company’s board approved a $1.5 billion stock buyback plan on August 18, further signaling SharpLink’s commitment to strengthening its financial position.

Stock Performance Amid Treasury Growth

Despite the significant growth in its Ethereum treasury, SharpLink's stock has faced some volatility. On August 24, 2025, SharpLink’s stock (SBET) fell by 8.15%, dropping to $19.17. This sharp decline highlights the market’s reaction to the firm’s ongoing expansion strategy. However, despite this dip, SharpLink’s stock has gained approximately 3% over the past week, with year-to-date growth still standing at a remarkable 150%.

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