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MINNEAPOLIS - SharpLink Gaming, Inc. (NASDAQ:SBET), currently valued at $819 million in market capitalization, has acquired an additional 7,689 Ethereum (ETH) during the week of June 28 through July 4, 2025, purchased at a weighted average price of $2,501 per ETH, the company announced Tuesday.
The acquisition brings SharpLink’s total ETH holdings to 205,634, reinforcing its position as what it describes as the world’s largest publicly traded company to adopt Ethereum as its primary treasury reserve asset. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 3.27, though its overall financial health score indicates potential risks.
To fund its ETH acquisition strategy, SharpLink raised approximately $64.0 million in net proceeds during the same period through its At-The-Market facility, selling 5,499,845 shares of common stock. Of these proceeds, about $37.2 million raised on July 3 has yet to be allocated to ETH purchases and is expected to be deployed this week. The stock has shown significant momentum, with InvestingPro reporting a 73% return over the past six months, though with notably high volatility (Beta: 12.1).
The company has committed 100% of its ETH holdings to staking and restaking protocols. Between June 28 and July 4, SharpLink earned approximately 100 ETH through staking rewards, contributing to a total estimated reward yield of 322 ETH since initiating the program on June 2.
SharpLink has introduced a new transparency metric called "ETH Concentration," calculated by dividing total ETH held by 1,000 Assumed Diluted Shares Outstanding. Since announcing its initial ETH purchases on June 13, the company’s ETH Concentration has increased from 2.00 ETH to 2.37 ETH, a 19% increase in three weeks.
Joseph Lubin, SharpLink Chairman and Co-Founder of Ethereum, stated the company is "maximizing long-term value for shareholders" through its ETH-centric treasury management strategy.
The information in this article is based on a company press release statement. For comprehensive analysis and 13 additional exclusive insights about SBET, visit InvestingPro.
In other recent news, SharpLink Gaming Inc. has significantly increased its Ethereum holdings to 205,634 tokens, earning 322 ETH in staking rewards since launching its treasury strategy. The company acquired 7,689 ETH at an average price of $2,501 per token, with plans to deploy an additional $37.2 million for further Ethereum purchases. SharpLink has raised approximately $64 million through its At-The-Market facility, selling nearly 5.5 million shares of common stock to support its crypto expansion. The company has committed 100% of its ETH holdings to staking solutions, generating notable rewards. SharpLink has also introduced an "ETH Concentration" metric to measure its ETH exposure relative to its equity structure, which has increased by 19% recently. Furthermore, the company announced the commencement of options trading for its common stock on the Nasdaq Options Market, aiming to enhance liquidity and investor access. SharpLink has positioned itself as the largest publicly traded holder of Ethereum, with a total acquisition of 176,270.69 ETH valued at approximately $463 million. The acquisitions have resulted in an ETH per share growth of 11.8% since June 2.
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