SharpLink Gaming is going heavy on Ethereum. The company just dropped a press release confirming the purchase of 12,207 ETH between June 16-20 for roughly $30.67 million, averaging $2,513 per ETH. That brings SharpLink’s total holdings to a whopping 188,478 ETH—making it the biggest public Ethereum holder to date.
To support this crypto-heavy strategy, the company also sold 2.54 million shares of its common stock, raising $27.7 million to fund more ETH buys. SharpLink’s Chairman, Joseph Lubin, called it a “forward-thinking move,” saying it reflects both belief in Ethereum’s utility and a plan to build long-term shareholder value.
The bold strategy began on June 2, when it launched its Ethereum treasury model. On June 16, it made its first major buy—176,271 ETH worth $462.9 million—and has already generated 120 ETH in rewards from staking or treasury gains. So far, the company reports an ETH-per-share growth of 18.97%.
Markets are noticing. SBET, SharpLink’s stock, jumped 10% to $10.10 on Tuesday. Many analysts believe this move mirrors previous crypto treasury strategies from companies like MicroStrategy—and could cause similar upside for it.
Meanwhile, Ethereum’s own momentum continues. ETH is up over 7% in the past 24 hours, now trading at $2,437, with volume spiking 25%, signaling growing investor interest. Whales are buying too. Wallets linked to ConsenSys, reportedly founded by Joseph Lubin himself, added another 3,704 ETH ($8.91 million) to their holdings today.
With Ethereum moving fast and institutional interest rising, SharpLink’s aggressive ETH-first strategy is drawing attention—and possibly setting a new trend for public companies in crypto.
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