Sharplink Gaming, Inc., a Nasdaq-listed company, has raised its ethereum (ETH) holdings to 797,704 ETH, valued at approximately $3.7 billion as of Aug. 24, 2025. This makes Sharplink the second-largest public corporate holder of ether globally, behind only Bitmine.
Weekly Purchases Add 56,533 ETH
The company disclosed that it acquired 56,533 ETH last week at an average price of $4,462, funded by $360.9 million in net proceeds from its at-the-market offering facility during the week of Aug. 18–22. Total ethereum staking rewards since the treasury strategy began on June 2 have grown to 1,799 ETH.
Co-CEO Joseph Chalom commented: “The execution of our ETH treasury strategy demonstrates the strength of our vision and team commitment. We remain focused on building long-term stockholder value while supporting the Ethereum ecosystem.”
Cash Reserve and New Transparency Metric
Sharplink reported having approximately $200 million in cash on hand still available for additional ETH acquisitions. To enhance transparency, the company introduced a new “ETH Concentration” metric, which exceeded 4.00 on a cash-converted basis.
Stock Buyback Plan Approved
In a separate move, Sharplink’s Board of Directors approved a new $1.5 billion stock buyback plan on August 18, 2025, signaling confidence in the company's valuation.
Headquartered in Minneapolis, Sharplink adopts Ethereum as a primary treasury reserve asset, providing investors direct exposure to the Ethereum network. This strategy reflects a growing corporate trend toward diversifying treasury holdings with digital assets.