SharpLink splurges $667 million to increase ETH holdings! Holdings exceed 740,000 coins, worth $3.2 billion.

SharpLink Gaming has once again increased its holdings in Ethereum (ETH) assets, with the latest announcement showing that the company purchased 143,593 ETH at an average price of $4,648, raising its total holdings to 740,760 ETH, with a market capitalization of approximately $3.2 billion. This move not only raises SharpLink's concentration of ETH to 3.87%, but also highlights the fierce competition among institutional investors in the "arms race" for ETH reserve assets.

SharpLink makes another big move to increase Holdings in ETH

According to the latest disclosure, SharpLink invested $667 million in this round of acquisition, raising its ETH Holdings to a historic high.

New Holdings: 143,593 ETH (Average Price 4,648 USD)

Total Holdings: 740,760 ETH (market capitalization approximately 3.2 billion USD)

Source of funds: $537 million net income ($390 million direct issuance + $146.5 million market financing)

Cash reserves: There are still over 84 million USD available for subsequent acquisitions.

SharpLink stated that this move is part of its long-term strategy for digital assets, aimed at enhancing the company's core competitiveness in the field of crypto assets by expanding its ETH Holdings and staking returns.

Active Staking Strategies and Yield Performance

In addition to spot holdings, SharpLink is also actively participating in Ethereum staking:

Staking rewards: A total of 1,388 ETH has been accumulated since June 2.

Staking Ratio: Almost all Holdings of ETH have participated in staking, including liquidity staking (LsETH)

Strategy Objective: Utilize the PoS model to generate stable returns while supporting Ethereum network security.

The company acknowledged in the documents submitted to regulatory authorities that staking activities may be affected by policy and regulatory changes, but still views it as an important component of long-term asset allocation.

Financial Report Pressure and Market Reaction

Despite the impressive ETH strategy of SharpLink, the short-term financial report data is not remarkable:

Q2 2025 net loss: $103 million (primarily due to LsETH accounting losses)

Stock performance: down 12% on Friday, closed at $20.10 on Monday, with a cumulative decline of 13.5% over five days.

Market analysis suggests that SharpLink, while under short-term financial pressure, still chooses to increase its holdings in ETH, demonstrating its strong confidence in long-term value.

Institutional ETH Reserve Competition Heats Up

SharpLink's actions are not an isolated case. Competitor BitMine Immersion Technologies recently purchased 373,000 ETH, bringing their total holdings to 1.52 million, with a market capitalization of approximately 6.6 billion dollars, which is double that of SharpLink.

According to Thomas Lee, chairman of the BitMine board, the company has become the second largest cryptocurrency vault in the world, second only to Strategy, which holds 629,376 BTC.

This institutional ETH reserve competition is rapidly enhancing Ethereum's position in institutional asset allocation, even starting to challenge Bitcoin's status as "digital gold."

Conclusion

SharpLink continues to spend $667 million to increase its ETH holdings to 740,000, valued at $3.2 billion, despite the pressure of losses. This is not only a bet on the long-term value of Ethereum but also an active layout in the institutional asset allocation battle. As more traditional and crypto-native institutions join the ETH reserve competition, the future market demand and price trends for ETH may usher in a new round of warming. For more ETH market dynamics and on-chain data analysis, please follow the official Gate platform.