In a bold move reinforcing its position as a leader among blockchain-integrated public companies, SharpLink Gaming (SBET) has announced the purchase of over 12,000 additional ether (ETH), further expanding its digital treasury. This strategic acquisition solidifies SharpLink’s reputation as the public company with the largest ETH holdings, drawing comparisons to MicroStrategy’s well-known Bitcoin treasury strategy—earning it the nickname “MicroStrategy for Ethereum.”
The company revealed that between June 16 and June 20, 2025, it acquired 12,207 ETH at an average price of $2,513 per coin**, totaling approximately **$30.67 million. Following this transaction, SharpLink’s total ETH reserve now stands at 188,478 ETH, all of which is fully deployed into staking protocols.
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Strategic Treasury Expansion and Financial Execution
To fund this latest wave of ETH accumulation, SharpLink utilized its At-The-Market (ATM) equity offering program, selling 2,547,180 shares of common stock and generating net proceeds of about $27.7 million. The company confirmed that the majority of these funds were directly allocated toward purchasing additional ETH, reflecting a disciplined and transparent capital deployment strategy.
This dual approach—raising capital through traditional equity markets while investing in decentralized digital assets—highlights a growing trend among forward-thinking public firms seeking to hedge against inflation, diversify reserves, and align with the future of finance.
What sets SharpLink apart is not just the scale of its holdings but the intentional integration of blockchain into its core business model. As part of its broader vision, the company has already staked 100% of its ETH holdings, generating yield through network validation rewards.
Since launching its ETH staking program on June 2, 2025, SharpLink has earned 120 ETH in staking rewards, adding incremental value to shareholders without diluting ownership. This passive income stream enhances treasury performance and demonstrates operational sophistication in managing digital assets.
Leadership Backed by Blockchain Visionaries
A key factor behind investor confidence in SharpLink is its association with Joseph Lubin, co-founder of Ethereum and CEO of Consensys—one of the most influential figures in the blockchain ecosystem. Lubin currently serves as Chairman of SharpLink’s Board of Directors, lending both strategic guidance and industry credibility to the company’s mission.
Commenting on the latest treasury expansion, Lubin stated:
“Continuously increasing our ETH holdings reflects our forward-looking strategy to create long-term value for shareholders. As Ethereum and digital assets become central to the future of finance and technology, we are positioning SharpLink at the intersection of blockchain innovation and next-generation iGaming experiences.”
His vision underscores a belief that Ethereum is more than just a cryptocurrency—it's the foundation for a new internet economy powered by smart contracts, decentralized applications (dApps), and tokenized assets.
Rob Phythian, CEO of SharpLink, echoed this sentiment, emphasizing the company’s commitment to leveraging blockchain not only for treasury management but also to enhance its gaming platforms. He reaffirmed that SharpLink will continue to provide regular updates on its digital asset strategy and overall growth trajectory.
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Shareholder Value and Market Impact
Since implementing its ETH treasury strategy, SharpLink has seen measurable improvements in key shareholder metrics. Notably, the company reports an 18.97% increase in ETH per share, a figure that reflects both aggressive accumulation and effective capital allocation.
This metric is increasingly important for investors evaluating crypto-native public companies. Unlike speculative price movements, ETH per share offers a tangible indicator of value accretion—especially when combined with staking rewards and revenue-generating blockchain integrations.
Market analysts suggest that SharpLink’s model could inspire other public companies to explore similar strategies, particularly those operating in tech-forward sectors like fintech, gaming, and digital media.
Why Ethereum? The Case for ETH as Corporate Treasury Reserve
While Bitcoin has traditionally been viewed as "digital gold," Ethereum offers unique advantages that make it compelling for corporate treasuries:
- Programmability: ETH powers smart contracts, enabling automated financial operations.
- Yield Generation: Unlike Bitcoin, ETH can be staked to earn passive income (currently ~3–5% APY).
- Ecosystem Utility: Over 3,000 dApps run on Ethereum, including DeFi, NFTs, and Web3 infrastructure.
- Institutional Adoption: Major financial players are integrating Ethereum-based solutions for settlement and asset tokenization.
For a company like SharpLink, which operates in the interactive gaming (iGaming) space, Ethereum’s capabilities align perfectly with future-facing use cases such as provably fair gaming, NFT-based rewards, and decentralized identity systems.
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Frequently Asked Questions (FAQ)
Q: How much ETH does SharpLink currently hold?
A: As of June 20, 2025, SharpLink holds a total of 188,478 ETH, making it the public company with the largest known ETH treasury.
Q: Is SharpLink staking its ETH holdings?
A: Yes. The company has deployed 100% of its ETH into staking protocols and has earned 120 ETH in staking rewards since initiating its program on June 2, 2025.
Q: Who is Joseph Lubin’s role at SharpLink?
A: Joseph Lubin serves as Chairman of the Board at SharpLink Gaming. He is also the co-founder of Ethereum and founder & CEO of Consensys.
Q: How did SharpLink fund its recent ETH purchases?
A: The company raised approximately $27.7 million through its At-The-Market (ATM) stock offering program by selling 2.55 million shares. Most of these proceeds were used to buy ETH.
Q: What is the significance of 'ETH per share' growth?
A: An increase in ETH per share indicates that shareholders’ proportional ownership of the company’s digital assets is rising—a direct measure of value accretion tied to treasury strategy.
Q: Could other companies follow SharpLink’s model?
A: Absolutely. With Ethereum’s ability to generate yield and serve as programmable money, more tech and fintech firms may adopt similar strategies to strengthen balance sheets and innovate business models.
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Looking Ahead: Blockchain Integration Beyond the Balance Sheet
SharpLink’s journey goes beyond simply holding digital assets—it aims to build a fully integrated blockchain-powered ecosystem. Future plans may include launching tokenized loyalty programs, integrating decentralized identity for user verification, and enabling crypto-native payment rails across its iGaming platforms.
As Ethereum continues to evolve with upgrades like EIP-4844 and ongoing scalability improvements via rollups, the utility and efficiency of ETH-based systems will only grow—making now a strategic time for enterprises to engage.
For investors watching the convergence of traditional markets and decentralized technology, SharpLink represents a compelling case study in innovation, execution, and visionary leadership.
By combining sound financial practices with deep blockchain expertise, SharpLink isn’t just following trends—it’s helping define the future of corporate finance in the Web3 era.