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SharpLink bought about 74,656 ETH for roughly $213 million.
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Total holdings reach about 280,706 ETH, with 99.7 percent staked.
SharpLink Gaming has stepped to the forefront of corporate Ether ownership. A fresh disclosure covering 7 July to 13 July shows the company adding nearly 75 thousand Ether at an average acquisition cost just under $2,900. The purchase pushes its Ether treasury to around 280 thousand coins, cementing its status as the largest holder of Ether among listed companies. The strategy turns the sportsbook technology firm into a material participant in Ethereum network security and yields.
NEW: SharpLink becomes the largest $ETH holder among corporate entities
Between July 7 and July 13, SharpLink acquired ~74,656 ETH for ~$213M at an average price of ~$2,852 per ETH
Total holdings now stand at ~280,706 ETH
~99.7% of ETH is staked or restaked, earning ~415 ETH… pic.twitter.com/1ocaM7XCS7
— SBET (SharpLink Gaming) (@SharpLinkGaming) July 15, 2025
Largest Corporate Ether Position
The latest purchase represents a 23 percent rise in SharpLink’s Ether concentration since 13 June, widening the gap with rivals that hold only single‑digit Treasury allocations to digital assets. Management funded the move by raising approximately $413 million through an at‑the‑market equity program earlier in July. Investors now see Ether comprising the bulk of corporate assets on the balance sheet, replacing most cash equivalents.
Staking Strategy and Yield
SharpLink stakes or re‑stakes about 99.7 percent of its Ether, channeling tokens into native validators and restaking services such as EigenLayer. Since 2 June, the program has generated roughly 415 Ether in rewards, translating to an annualised yield in the mid‑single‑digit range. Management views the staking income as a buffer against balance‑sheet volatility while leaving the principal in Ether to benefit directly from potential price appreciation.
Staked Ether earns protocol‑level rewards and priority transaction fees, but the approach carries liquidity and smart‑contract risk. To mitigate this, SharpLink ladders maturities across multiple validators and limits individual exposure to third‑party restaking operators. The company also discloses real‑time validator performance to shareholders, mirroring traditional treasury transparency.
Market participants will monitor whether the enlarged Ether treasury influences SharpLink’s core sports betting technology business. For now, the company signals that the crypto allocation remains a treasury, not an operating, asset. Management has reiterated guidance that any realised gains would be recycled into additional staking capacity or share repurchases rather than cash dividends.
SharpLink’s approach underlines a growing corporate preference for Ether over Bitcoin, owing to the token’s yield component and its role in decentralised finance infrastructure. As of 15 July, Ether trades near $2,900, putting SharpLink’s aggregate cost basis roughly in line with the market. The treasury bet therefore remains direction‑neutral in dollar terms, while the earned rewards provide incremental lift to free cash flow.
With regulatory clarity on staking income still evolving, investors will look for updated accounting treatment and disclosure in the upcoming quarterly filing. For now, the firm’s outsized Ether position sets a high‑profile precedent for corporate treasury diversification beyond traditional short‑dated securities.
