SharpLink Gaming Expands Ethereum War Chest to $1.3B, Surging Past 360K ETH

23. Jul 2025 Posted by Laurent C. on News

In a bold display of confidence in Ethereum's future, Nasdaq-listed SharpLink Gaming (SBET) announced Tuesday that it has surpassed 360,000 ETH in holdings—now worth approximately $1.3 billion. The gambling-focused marketing firm revealed in its weekly report that it acquired 79,949 ETH last week alone, including a $48 million buy on July 14, pushing its average acquisition price to $3,238 per ETH.

With Ethereum recently touching a new 2025 high of $3,848 before settling near $3,700, SharpLink’s aggressive treasury strategy appears to be paying off. The company's stock has surged 206% over the past month, currently trading just under $28 per share, fueled by bullish crypto sentiment and investor enthusiasm. To fuel further accumulation, SharpLink announced plans to expand its stock sale program from $1 billion to a staggering $6 billion.

Chairman Joseph Lubin, who also serves as CEO of Consensys, emphasized the firm’s long-term commitment to Ethereum: “The continued strength of ETH and our ability to acquire significant volume at opportunistic prices support our aim to enhance ETH concentration and shareholder value.”

SharpLink is part of a growing wave of publicly traded companies shifting toward Ethereum-based treasuries. Just days earlier, Bit Digital (BTBT) disclosed the purchase of 19,683 ETH, bringing its holdings to over 120,000 ETH—valued at around $70 million. Meanwhile, BitMine Immersion, backed by Peter Thiel, doubled down with a $500 million ETH buy last Thursday, surpassing $1 billion in total Ethereum reserves. The firm says it aims to control 5% of all Ethereum held or staked.

These moves echo the Bitcoin-centric strategy pioneered by Strategy (formerly MicroStrategy), which pivoted from software to crypto in 2020. Today, Strategy holds $72 billion worth of Bitcoin, and its success seems to be inspiring a parallel movement among Ethereum believers.

As ETH strengthens and institutional adoption accelerates, the Ethereum treasury race is clearly on.