8-8-2025 – SharpLink Gaming, a Nasdaq-listed firm, has acquired 21,959 ETH valued at $85.46 million, further expanding its Ethereum treasury to 543,898 ETH, worth approximately $2.12 billion. The purchase, executed over the past four hours, was first reported by on-chain analytics platform Lookonchain.
The Minneapolis-based company, which pivoted to an Ethereum-focused treasury strategy in May 2025, continues its aggressive accumulation of the second-largest cryptocurrency by market cap. This latest buy follows a $200 million capital raise announced on August 7, aimed at pushing SharpLink’s Ethereum holdings past the $2 billion mark.
The firm, led by Consensys CEO and Ethereum co-founder Joseph Lubin as chairman, has staked over 95% of its ETH, earning yield while supporting Ethereum’s network security. SharpLink’s strategy mirrors MicroStrategy’s Bitcoin treasury model but centers on Ethereum, positioning the company as the second-largest public ETH holder behind BitMine Immersion Technologies.Â
