- SharpLink Gaming increased its Ethereum treasury to 360,807 ETH after a record weekly purchase of 79,949 ETH worth $258 million.
- The firm raised $96.6 million through ATM shares during the week, deploying it toward ETH accumulation at an average price of $3,238.
- Ethereum concentration rose to 3.06 as SharpLink’s staking rewards reached 567 ETH since launching its digital treasury strategy on June 2, 2025.
SharpLink Gaming, Inc. (Nasdaq: SBET) raised its Ethereum (ETH) holdings by 29% during the week ending July 20, 2025, reaching a balance of 360,807 ETH. This increase came through a record purchase of 79,949 ETH worth approximately $258 million at an average price of $3,238.
ETH Treasury Growth and Market Execution
SharpLink began the week with 280,700 ETH and ended with 360,807 ETH, marking its largest weekly acquisition since the start of its digital treasury strategy. The company exceeded the prior week’s 74,700 ETH purchase, continuing a strong accumulation trend since early June.
Average ETH purchase prices have consistently increased over four consecutive weeks: $2,411, $2,501, $2,852, and $3,657 as of writing. ETH concentration now stands at 3.06, up 53% from June 2, when the strategy launched with a concentration level of 2.35. Total ETH staking rewards reached 567 ETH after an additional 0.2 ETH earned during the reporting period.
Chairman Joseph Lubin stated, “We continue to strategically leverage our ATM facility to build our ETH treasury in pursuit of our long-term growth objectives.” This reflects the company’s commitment to Ethereum as a core treasury reserve asset while maintaining disciplined purchasing strategies.
Capital Utilization Through ATM Facility
To fund its ETH accumulation, SharpLink used its At-The-Market (ATM) facility, raising $96.6 million in net proceeds through the issuance of 3.8 million shares. Although fewer shares were issued compared to the 24.6 million shares issued the previous week, the capital raised remained strong.
Over the past four weeks, SharpLink raised $24.4 million, $64 million, and $413 million, respectively, through ATM offerings. These funds have consistently supported weekly ETH purchases. As of July 20, $96.6 million in ATM proceeds remained undeployed, positioned for potential future ETH acquisitions.
Lubin explained, “The continued strength of ETH and our ability to acquire significant volume at opportunistic prices support our aim to continue enhancing ETH concentration and shareholder value through disciplined execution of our treasury growth strategies.”
The company has already increased its holdings in ETH by almost twice as much since June 29, expanding the holdings by 360,807 ETH. This structured approach shows steady deployment of capital and clear growth in crypto reserves.
Legislative Support and Long-Term Direction
SharpLink expressed support for the Genius Act, a bipartisan law signed by President Donald J. Trump that provides a legal framework for digital assets in the U.S. The law addresses regulatory uncertainty and supports the integration of blockchain technologies into corporate operations.
In response to this development, Lubin remarked, “With the Genius Act now law, the regulatory uncertainty that has surrounded crypto innovation is finally easing.” He added, “We believe this ushers in a more supportive environment for companies like SharpLink to not only operate and grow but also to harness the full potential of Ethereum—including its security, scalability, and smart contract utility—to drive profound, transformative change across the global digital economy.”
The company will keep its operations under the new legal environment by emphasizing a close adherence to Ethereum and its larger digital asset expansion plan.
