SharpLink Gaming (Nasdaq: SBET) said its ethereum treasury has grown to 188,478 ETH, extending its position as the largest publicly traded holder of ether. The company disclosed that between June 16 and June 20, 2025, it acquired an additional 12,207 ETH for about $30.67 million, at an average purchase price of $2,513 per coin.
Equity sales support treasury expansion
Alongside the purchase, SharpLink said it raised capital through its At-The-Market facility. During the same period, the company sold 2,547,180 shares of common stock, generating roughly $27.7 million in net proceeds. Management said a majority of those funds is expected to be used to further expand the company’s ETH treasury strategy, signaling an ongoing commitment to ethereum as a core balance sheet asset.
As of June 20, 2025, all of SharpLink’s ETH holdings had been deployed into staking solutions. The company added that since launching its ETH-focused treasury strategy on June 2, 2025, it has generated 120 ETH in staking rewards. That detail suggests SharpLink is not only accumulating ether, but also seeking to improve treasury productivity through onchain yield.
Executives highlight long-term positioning
Chairman Joseph Lubin said the company is focused on creating long-term shareholder value by placing SharpLink at the forefront of blockchain development. CEO Rob Phythian also reaffirmed the company’s intention to use blockchain technologies to support its growth trajectory and strengthen its treasury foundation.
The latest update shows SharpLink combining equity financing, direct ETH accumulation, and staking returns into a more structured corporate treasury model. With its holdings growing and all assets now staked, the company’s ethereum-centered treasury approach is likely to remain closely watched by the market.