Acquisition of 176,000+ ETH Sees Sharplink Double Down on Ethereum

Sharplink Gaming, Inc. (Nasdaq: SBET) has made headlines by acquiring 176,271 ETH for $462.9 million, positioning itself as the largest publicly traded ether holder worldwide. This milestone surpasses other public firms, leaving only the Ethereum Foundation ahead in total holdings.

The acquisition, averaging $2,626 per ETH, was funded through the company’s previously disclosed private investment in public equity (PIPE) and additional proceeds from its $1 billion at-the-market (ATM) equity offering program.

“This is a landmark moment for Sharplink and for public company adoption of digital assets. Our decision to make ETH our primary treasury reserve asset reflects deep conviction in its role as programmable, yield-bearing digital capital,” said Rob Phythian, CEO of Sharplink Gaming.

Between May 30 and June 12, Sharplink raised $79 million in gross proceeds via its ATM facility, with the majority allocated to expanding its ETH treasury position.

Joseph Lubin, Chairman of Sharplink Gaming and Co-founder of Ethereum, spoke about Sharplink’s significant capital allocation to ETH.

SharpLink’s bold ETH strategy represents a pivotal milestone and innovative approach to the institutional adoption of Ethereum. Sharplink is contributing to Ethereum’s long-term security and trust properties while earning additional ETH for that work.

Over 95% of Sharplink’s ETH is now actively deployed in staking and liquid staking platforms, not only generating yield but also supporting the Ethereum network’s security. The company has also reported an 11.8% ETH-per-share growth since June 2, 2025, enhancing shareholder exposure to the asset’s performance.

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