Nasdaq-listed SharpLink Gaming has surpassed a $1 billion ETH treasury, reaching 307,362 ETH after recently purchasing 21,468 ETH. Its rapid accumulation and staking strategy signal industry conviction in the Ethereum ecosystem and its native asset, Ether. The company is now the largest known corporate holder of Ether, rivaling the Ethereum Foundation.
SharpLink Initiates Ether Buying Spree
Notably, SharpLink Gaming continued its aggressive Ethereum accumulation strategy this week, purchasing 16,374 ETH on July 14. Since initiating its Ether acquisition plan in early June, the firm has adopted a Strategy-like approach, steadily building a crypto treasury.
On July 15, the company acquired an additional 24,371 ETH, bringing its six-day total to 84,953 ETH. Approximately 30% of those assets were bought directly from the Ethereum Foundation. The spree continued into July 16 with two additional purchases of 5,188 ETH via Coinbase Prime and 1,189 ETH. The firm’s unrealized profit has soared to over $130 million.
Today, SharpLink Gaming has achieved a major milestone by adding two additional batches of Ether (10,614 and 10,854), totaling 21,468 coins collectively worth over $70 million. The move brought its total ETH holdings to approximately $1.03 billion in valuation. The latest acquisition marks its entry into the billion-dollar crypto treasury club.
Building on its treasury plans, SharpLink has staked over 95% of its ETH balance, generating staking rewards since early June. The move indicates that the firm is focused on yield gains and active network support rather than passive holding.
Interestingly, BitMine lurks behind SharpLink with its recent disclosure of holding 300,657 ETH ($1.04 billion). The company’s previously reported holdings of 163,142 ETH indicate it recently acquired an additional 137,515 ETH, boosting its treasury by nearly 46%. The firm’s goal is to accumulate and stake up to 5% of Ether’s total supply.
Ether Attracts Market Reactions
Ether has been trading with strong upward momentum. It recently broke through key resistance levels amid renewed investor interest, fueled by large-scale institutional purchases. This week, the price surged past the $3,200 mark, and at press time, it was valued at $3,435, reflecting a 23% weekly gain.
Ether’s recent move has attracted different investors’ approaches. For example, blockchain data reveals that BitMEX cofounder Arthur Hayes recently acquired $2 million worth of LDO and AAVE tokens. On the other hand, an early Ethereum ICO participant deposited 729 ETH ($2.53 million) into Kraken, possibly signaling a move to liquidate the long-held assets.
Meanwhile, according to Coinglass, Ethereum’s total contract holdings have now surpassed $50 billion, hitting a record high of $50.28 billion. The development represents a 24-hour increase of approximately 8%, reflecting investor confidence in the Ether market.
