Bitcoin Surges to New All-Time High, Surpassing $112,000 Mark!
SharpLink Gaming’s ethereum Acquisition Boosts Stock Performance
SharpLink Gaming Expands ethereum Holdings
SharpLink Gaming, a prominent player in sportsbook marketing, is rapidly increasing its ethereum reserves. The firm recently announced that it has amassed a total of 205,634 ethereum in its newly established treasury. Between June 28 and July 4, the company acquired an additional 7,689 ethereum for a substantial investment of $19.2 million, as detailed in a recent update on social media platform X.
Stock Surge Following Acquisition News
Following the announcement, SharpLink’s shares experienced a remarkable increase of 23% in early trading, with the stock maintaining a 16% rise by 11:30 a.m. ET. This surge reflects investor confidence in the company’s strategic move to bolster its cryptocurrency holdings.
Staking Rewards Contribute to ethereum Growth
In addition to its purchases, SharpLink has also benefited from staking rewards, earning 100 ethereum during the same period. The company reported a total estimated yield of 322 ethereum since launching its staking initiative on June 2, 2025.
Financial Gains and Future Plans
SharpLink’s chairman, Joseph Lubin, who is also the co-founder of ethereum and CEO of Consensys, has been instrumental in the company’s recent financial maneuvers. During the same timeframe, SharpLink successfully raised around $64 million through its at-the-market facility by selling 5,499,845 shares of common stock. Notably, approximately $37.2 million of this capital was raised on July 3, 2025, and has not yet been allocated for ethereum purchases, although a significant portion is expected to be deployed shortly.
Position in the ethereum Market
With its recent acquisitions, SharpLink now holds the second-largest treasury of ethereum, trailing only the ethereum Foundation, which possesses 244,479 ethereum. This strategic positioning underscores the company’s commitment to expanding its influence in the cryptocurrency space.
ethereum Market Trends
In the broader market context, ethereum has seen a 5.3% increase over the past week, although it remains 47% below its peak value of $4,878, reached on November 10, 2021. Last month, SharpLink also announced plans to potentially invest up to $1 billion in shares of its common stock to further enhance its ethereum holdings.
This strategic acquisition and the resulting stock performance highlight SharpLink Gaming’s ambitious approach to integrating cryptocurrency into its business model, positioning the company for future growth in a rapidly evolving market.
