SharpLink Gaming has increased its Ethereum (ETH) holdings by nearly 83%. This decision solidifies its position as the largest public company to adopt Ethereum as a core treasury reserve asset. During the period of June 28 through July 4, 2025, the firm purchased 7,689 ETH. They spent a weighted average of $2,501 per ETH. By July 4th, 2025, SharpLink’s cumulative ETH balance was 205,634 ETH.

Company raised $64.0 million in net proceeds through its at-the-market (ATM) facility from June 28 – July 4, 2025. While doing so, it went public, selling 5,499,845 shares of its common stock in the process. SharpLink has already allocated the majority of these funds, $37.2 million, for additional ETH acquisitions. This action reflects their lasting bullish outlook on the crypto.

SharpLink Gaming has dedicated 100% of its existing ETH holdings to participate in various staking and restaking protocols. As you can see, this strategy is now paying off tremendously! The staking rewards earned by the company since June 2, 2025 have all been 322 ETH. From June 28 to July 4, 2025, SharpLink received about 100 ETH in staking rewards. To accomplish this is a testament to the effectiveness of its overall investment strategy.

The company’s ETH Concentration metric has skyrocketed. ETH per share ETH per 1,000 assumed diluted shares. It recently shot up from 2.00 to 2.37 ETH, a 19% increase over the last three weeks. This metric highlights why SharpLink has been so aggressive in amassing ETH well beyond its outstanding shares.

To include the sharpLink strategy in line with long-range vision of SharpLink Chairman of the Board, Joseph Lubin, co-founder of Ethereum. Lubin's belief in the long-term appreciation potential of ETH appears to be a driving force behind the company's treasury management strategy.

Our sustained success is a direct result of SharpLink's disciplined execution of its ETH-centric treasury management strategy and its unwavering commitment to operational transparency. By continuously refining our treasury strategy and adopting innovative transparency metrics like ETH Concentration, we’re not only maximizing long-term value for shareholders but also setting a new benchmark for responsible digital asset stewardship in today’s public markets. - Joseph Lubin, SharpLink Chairman, Co-Founder of Ethereum and Founder and CEO of Consensys

SharpLink has been taking aggressive action on executing its Ethereum-focused treasury strategy. Their recent purchase of 7,689 ETH and their plan to allocate an additional $37.2 million towards ETH purchases proves this commitment. In another sign of bullishness, the company has announced plans to increase its ETH reserves. It intends to fund this ATM expansion through the ATM facility.

It looks like these staked out strategies are really paying off for the company in more ways than one. SharpLink has been awarded 322 ETH in staking rewards since June 2, 2025. This illustrates the fact that they are doing more than simply holding ETH, they are using it to create more revenue. This strategy would provide some relief with how to pay for both acquiring and holding such a large position in ETH.

The spike in SharpLink’s ETH Concentration metric indicates that the company is adjusting its strategy to expose its customers to as much ETH as possible. Though still cash rich relative to its share count, SharpLink is diluting its ETH holdings. This strategy has evidently positioned the company well to benefit from potential future appreciation in the value of ETH.

Under the leadership of Joseph Lubin, co-founder of Ethereum and current Chairman of SharpLink, the company holds an interesting, first-of-its-kind advantage within its industry. Lubin's deep understanding of Ethereum and his belief in its long-term potential likely play a significant role in the company's decision to make ETH its primary treasury reserve asset.

One company stands out from this flock of sharpest knives in the drawer — SharpLink. Alongside Circle, it becomes the largest public company to make Ethereum its main treasury reserve asset. This new strategy has both upside and downside risk. More importantly, it makes SharpLink the first in supporting the adoption of cryptocurrency as a medium of exchange among publicly traded companies.