rewrite this title SharpLink Gaming Expands Ethereum Reserves with $35.6 Million Purchase, Nears $1 Billion Holding

This latest purchase raises SharpLink’s total Ethereum portfolio to 296,508 ETH, with a current value close to $1 billion, according to blockchain data analysis from Onchain Lens.

SharpLink Gaming (@SharpLinkGaming) has added 10,614 $ETH, worth $35.62M, to its $ETH strategy reserve.

They now hold a total of 296,508 $ETH, worth $997.26M.

Address: 0xd6bca7f5f7f1be0494dcd2da16381176da425131

Data @nansen_ai pic.twitter.com/sNtkPPjcgl

— Onchain Lens (@OnchainLens) July 16, 2025

Since launching its Ethereum treasury strategy on May 27, 2025, SharpLink has rapidly expanded its crypto assets. The company raised over $400 million in capital through private placements and at-the-market equity offerings to fund these acquisitions. SharpLink’s leadership, including CEO Rob Phythian and Ethereum co-founder Joseph Lubin as chairman, is executing a bold plan to make Ethereum the principal reserve asset on its balance sheet.

Demonstrating active use of its Ethereum holdings, SharpLink has staked nearly all its ETH in decentralized finance (DeFi) protocols like Hoppers DApp. This strategy has generated 415 ETH in staking rewards since early June, showcasing a practical integration of blockchain technology into its core gaming operations. The company’s ETH Concentration metric, which calculates ETH per 1,000 diluted shares, has also risen to 2.46, signalling increased crypto exposure to investors.

SharpLink’s approach mirrors institutional trends, with other companies such as Bit Digital also favouring Ethereum-based treasury allocations. The firm’s stock performance reflects this confidence, skyrocketing 321% year-to-date, although a recent 73% drop in June was attributed to a misunderstanding of a share registration filing.

With Ethereum trading above $3,000, SharpLink reports approximately $45 million in unrealized gains. Investors eagerly anticipate whether the company will move forward on its ambitious goal to acquire $1 billion worth of ETH, as filed with the Securities and Exchange Commission in May.

Ethereum’s price could soar to an astonishing $1.5 million per token in the long run, according to Eric Jackson, founder of EMJ Capital. Jackson believes the market is severely underestimating the potential of the world’s second-largest cryptocurrency.

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