SharpLink Gaming has bolstered its crypto treasury with a fresh purchase of 77,210 Ether (ETH), valued at approximately $295 million—further cementing its position as the second-largest corporate holder of ETH.
The acquisition exceeds Ethereum’s net issuance over the past 30 days, which stood at 72,795 ETH, according to Ultra Sound Money. SharpLink staked most of the newly acquired Ether, leveraging Ethereum’s proof-of-stake model to earn network rewards.
SharpLink(@SharpLinkGaming) bought another 77,210 $ETH($295M) and currently holds 438,017 $ETH($1.69B).https://t.co/143CVq5E6U pic.twitter.com/Oa4dQ9XFGF
— Lookonchain (@lookonchain) July 28, 2025
With this move, SharpLink’s ETH holdings now surpass 438,000 ETH—valued at over $1.69 billion—according to blockchain data firm Lookonchain. The company trails only BitMine Immersion Technologies, which recently disclosed holdings exceeding $2 billion in ETH.
“Banks close on weekends. Ethereum runs 24/7,”
SharpLink posted on X, underscoring its commitment to digital assets over traditional finance.
The aggressive ETH accumulation comes as SharpLink seeks to ramp up its capital-raising efforts. On July 18, the firm had filed an amended prospectus to increase its proposed stock offering from $1 billion to $6 billion, with most of the proceeds earmarked for further ETH purchases.
The company is also reinforcing its leadership as it scales up. Last Friday, it announced the appointment of Joseph Chalom as co-CEO. Chalom previously spent two decades at BlackRock, the world’s largest asset manager, and will now lead SharpLink’s global strategic initiatives. In May, the company also named Consensys founder and Ethereum co-creator Joseph Lubin as chairman of the board.
Institutional demand for ETH continues to grow. BitMine, the top corporate holder, recently unveiled plans to acquire 5% of Ethereum’s total supply—approximately 6 million ETH, worth over $23 billion. As of now, corporations and Ethereum ETFs collectively hold 8.12 million ETH—6.73% of the total supply—valued at over $31 billion, per data from Strategic ETH Reserve.
The accelerating accumulation by SharpLink and other corporate giants signals a tightening ETH supply that could influence market dynamics, particularly as institutions continue to expand their onchain treasuries.
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