Ethereum Treasury SharpLink’s Holdings Reach $1.3 Billion With Latest ETH Purchase

Ethereum treasury firm SharpLink Gaming brought its total ETH holdings to over 360,000, the company  announced in Tuesday in a weekly progress report. 

Those assets are worth $1.3 billion, based on ETH’s current price, although SharpLink acquired the Ethereum at an average price of $3,238.

SharpLink (SBET) said that it bought 79,949 ETH last week. The firm bought $48 million of the cryptocurrency on July 14 and added a series of purchases in the ensuing days. 

“The continued strength of ETH and our ability to acquire significant volume at opportunistic prices support our aim to continue enhancing ETH concentration and shareholder value through disciplined execution of our treasury growth strategies,” said Joseph Lubin, SharpLink chairman and founder and CEO of blockchain technology company Consensys, in a statement.

(Disclosure: Consensys is one of 22 investors in an editorially independent Decrypt.)

The Nasdaq-listed gambling marketing firm’s stock was recently trading at nearly $28 a share, up by more than 10%, according to Yahoo Finance. Over the past month, its stock has shot up by 206%. 

SharpLink is aggressively looking to increase its ETH holdings, and on Friday announced that it would boost a stock sale from $1 billion to $6 billion to help do so. 

The price of Ethereum hit a fresh 2025 peak of $3,848 earlier Monday, and was recently trading at about $3,700 after rising 25% over a seven-day period, according to crypto data provider CoinGecko. . 

SharpLink is one of a number of publicly traded companies to create and add to Ethereum treasuries in recent weeks. Last  Friday, Bit Digital (BTBT), which previously focused on Bitcoin mining, announced the purchase of approximately 19,683 ETH. The company holds about 120,306 Ethereum worth nearly $70 million. 

On Thursday, the Peter Thiel-backed BitMine Immersion, which also moved from mining to Ethereum holding, surpassed $1 billion in Ethereum after adding $500 million in ETH to its holdings. The firm, which hopes to control 5% of all Ethereum held or staked, debuted its strategy earlier this month.

Those firms have followed a model pioneered by  Strategy, formerly MicroStrategy, which shifted from software development to Bitcoin purchasing in 2020 after years of struggling and low share prices. Strategy now holds roughly $72 billion in BTC based on its current price.