SharpLink Gaming (NASDAQ: SBET) saw its share price jump as much as 26% after announcing a major purchase of Ethereum (ETH), signaling a bold crypto-centric treasury strategy that continues to attract investor attention.
SharpLink Buys 7,689 More ETH, Expanding Holdings Beyond 200,000
On Tuesday, the Minneapolis-based online gaming and technology firm revealed the acquisition of an additional 7,689 ETH, worth approximately $19.2 million. This purchase brings its total Ethereum holdings to 205,634 ETH, currently valued at over $533 million.
“We are building Ethereum into the backbone of our corporate treasury strategy,” the company said in a statement.
SharpLink paid an average price of $2,501 per ETH, well below today’s market rate of around $2,591, positioning the firm for immediate unrealized gains.
Stock Rallies on Crypto Strategy and Shareholder Transparency
Following the announcement, SBET shares climbed to $15.93, marking a 26% intraday gain before settling around $14.55. The rally mirrors previous reactions seen in other companies adopting Ethereum-centric treasury models.
Last week, SharpLink raised $64 million through an at-the-market share offering. The firm confirmed that $37.2 million from the offering will be used to buy more ETH, strengthening its long-term crypto positioning.
All Holdings Are Staked to Earn Passive Yield
Unlike traditional treasury strategies, SharpLink is staking 100% of its Ethereum holdings to generate yield. Since beginning this strategy on June 2, the company has already earned 322 ETH in staking rewards, equivalent to approximately $2.1 million.
“All our Ethereum is actively earning yield through staking or restaking protocols,” the company confirmed.
Introducing ‘ETH Concentration’ as a Transparency Metric
To give shareholders better visibility into its crypto exposure, SharpLink introduced a proprietary metric called “ETH Concentration”, which measures how many ETH are held per 1,000 diluted shares outstanding.
That figure currently stands at 2.37 ETH per 1,000 shares, up from 2.00 just three weeks ago, reflecting the company’s deepening commitment to Ethereum as a balance sheet asset.
In short
SharpLink Gaming’s Ethereum-first strategy appears to be paying off, both in terms of market reaction and yield generation. As more public companies explore digital asset treasuries, SharpLink’s aggressive ETH accumulation may set a precedent for crypto-integrated financial models.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.