SharpLink Expands Ethereum Bet with $119M ETH Buy, Ups SEC Filing to $6B

SharpLink Gaming (Nasdaq: SBET) deepened its aggressive Ethereum accumulation strategy on Thursday, purchasing an additional 32,892 ETH worth approximately $118.8 million — pushing its total ETH holdings past 353,000.

The latest buy includes 18,712 ETH from Galaxy Digital and 14,180 ETH from Coinbase Prime, according to Arkham Intelligence. This marks a continuation of SharpLink’s unprecedented crypto buildup, with over 144,000 ETH acquired in just the past nine days, per Lookonchain.

Once known primarily for its iGaming and marketing tech, SharpLink recently overtook even the Ethereum Foundation as the largest corporate ETH holder. Its transformation into a crypto powerhouse appears to be accelerating — the company amended its SEC filing Thursday to allow for $6 billion in stock sales, up sharply from the $1 billion figure submitted on May 30. Analysts suggest the capital could be used to supercharge further Ethereum purchases.

Meanwhile, Ethereum itself has benefited from the broader crypto market surge, rising 8% in the last 24 hours to $3,605.

Though SharpLink shares closed down 2.62% at $36.40 on Thursday, the stock remains one of 2025’s top performers, up nearly 374% year-to-date and nearly 97% in just the past five days.