SharpLink Gaming, a Nasdaq-listed iGaming and Web3 company, has once again expanded its Ether treasury. The firm has purchased an additional 11,259 ETH, spending approximately $43.1 million at an average price of around $3,827 per coin.
Sharplink’s Ether Buying Spree
The purchase follows last week’s acquisition of $295 million worth of ETH at an average price of $3,756 each. Blockchain data reveals the latest addition brings the company’s total Ether holdings to approximately 449,000 ETH, valued at around $1.74 billion. The move ranks it as the second company with the largest ETH Treasury following BitMine Immersion Technology.
Since June, SharpLink has adopted a Strategy-style treasury and combines institutional accumulation with staking-based yield. The company has spent hundreds of millions on ETH purchases. Its average cost basis across all acquisitions is currently estimated at $3,011 per ETH, leaving it with a floating gain of over $386 million.
The company continues to stake newly acquired ETH and funnel rewards into its reserve fund. The company’s capital strategy relies on its At-the-Market (ATM) facility. Interestingly, it raised over $279 million in equity during the week ending July 27 and remains heavily focused on maintaining high ETH-per-share growth.
The firm’s leadership, now including Joseph Chalom, former BlackRock digital assets executive, aims to remain committed to Ethereum for the long term. The company applauded the signing of the Genius Act, saying the new regulatory clarity paves the way for institutional crypto adoption.
Corporate Ether Treasuries Surpass $10B
According to data from analytics platform SΞR, public companies and institutional reserves now hold over $10 billion worth of Ether, marking a 50-fold increase in just four months. The surge demonstrates a broader shift toward ETH as a strategic and yield-generating reserve asset.
$ETH is not yet the world asset reserve…
…but its $10.56B closer.Congrats to all 65 entities on breaking $10B mark. pic.twitter.com/c4dE5MBJFV
— fabda.eth (@fabdarice) July 31, 2025
Notable treasury players such as BitMine Immersion Technologies, SharpLink Gaming, and BTCS have amassed substantial ETH stakes. New treasury entrants like The Ether Machine are also cementing their presence, with 334,757 ETH ($1.3 billion) acquired amid a $400M capital raise to support its public listing and ETH infrastructure services.
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