SharpLink Gaming (SBET) Stock: Company Becomes World's Largest Corporate Ethereum Holder

TLDR

Table of Contents

SharpLink Gaming (SBET) becomes world’s largest corporate Ethereum holder with 280,706 ETH after purchasing $73 million worth through Coinbase Prime
SBET stock surged 17.5% following the announcement, trading at $26.35 as investors embraced the aggressive digital asset strategy
The company raised $413 million through share issuance to fund Ethereum purchases, with $257 million still available for deployment
SBET has staked 99.7% of its Ethereum holdings, earning 94 ETH in rewards between July 7-11 and 415 ETH total since June 2
The company’s ETH Concentration metric reached 2.46 ETH per 1,000 diluted shares, up 23% in one month

SharpLink Gaming made waves in the crypto world by purchasing $73 million worth of Ethereum through Coinbase Prime. The move sent SBET shares soaring 17.5% as investors cheered the company’s aggressive digital asset strategy.

The gaming company now holds 280,706 Ethereum tokens, making it the largest corporate holder globally. This massive position dwarfs other publicly traded companies that have dabbled in crypto treasury strategies.

SBET added 74,656 ETH between July 7-13, 2025, paying a weighted average price of $2,852 per token. The recent purchase included 24,371 ETH as part of the broader acquisition spree.

SHARPLINK GAMING NOW HOLDS $700M IN ETH
SharpLink Gaming just bought & staked an additional $15.8M of ETH into LSETH, bringing their total holdings to $700M.
They’re now the LARGEST single corporate holder of $ETH and hold more than the Ethereum Foundation. pic.twitter.com/XTZ0nefamE
— Arkham (@arkham) July 15, 2025

The company funded this buying frenzy by raising $413 million through its At-The-Market facility. SBET issued over 24 million shares during the same period to generate cash for Ethereum purchases.

With $257 million still available for deployment, more buying could be on the horizon. The company has made clear that Ethereum serves as its primary treasury reserve asset.

Joseph Lubin, Ethereum co-founder and Consensys founder, endorsed the acquisition publicly. His backing adds credibility to SBET’s strategy of building a crypto-focused treasury.

The market responded positively to the news, with SBET trading at $26.35 by 10:07 AM EDT on Monday. The stock gained over 10% in early trading as investors digested the Ethereum accumulation story.

By aggressively acquiring Ethereum, SBET has positioned itself as a digital-first enterprise. The company maintains that ETH now acts as its primary treasury reserve asset.

With this massive position, SBET’s exposure to blockchain infrastructure has reached a historic high. The company continues strengthening its treasury strategy through regular acquisitions.

Staking Strategy Generates Passive Income

SBET isn’t just hoarding Ethereum – it’s putting the tokens to work. The company has staked 99.7% of its holdings through various protocols to generate passive income.

Between July 7-11, SBET earned 94 ETH in staking rewards. Since June 2, the company has accumulated 415 ETH total through its staking operations.

This yield-generating approach helps offset the volatility risk of holding such a large Ethereum position. The staking rewards provide steady income while maintaining full exposure to ETH price movements.

The company uses proven DeFi protocols to ensure liquidity and secure performance. SBET continues adjusting its staking strategy to maximize yields while managing network risks.

The Ethereum staking model helps the company generate income while retaining full ETH exposure. This move also increases financial efficiency as Ethereum becomes an income-generating reserve.

Concentration Metric Tracks Ethereum Exposure

SBET tracks its Ethereum exposure through an ETH Concentration metric that reached 2.46 ETH per 1,000 diluted shares by July 13. This represents a 23% increase over the past month.

The metric includes all share classes, warrants, and options in its calculation. This provides a transparent way to measure how much Ethereum exposure shareholders have per share owned.

As SBET continues accumulating Ethereum, this concentration figure will likely keep rising. The company remains committed to its digital asset strategy despite the inherent volatility.

SBET includes all share classes, warrants, and options in calculating ETH Concentration, excluding treasury adjustments. This creates a more transparent gauge for assessing Ethereum’s role in its balance sheet.

Ethereum’s market liquidity tightened as SBET’s massive purchases moved tokens off exchanges into institutional custody. This dynamic contributed to upward price momentum in the broader crypto market.

The company plans to provide regular updates on its ETH treasury activity for public transparency. SBET maintains that regular communication helps investors understand its evolving digital asset strategy.

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