SharpLink has expanded its Ethereum treasury to nearly $3.7 billion after acquiring 56,533 ETH worth about $263 million. The purchase, announced on August 24, 2025, further solidifies SharpLink’s position as one of the largest corporate holders of Ether.
The company revealed that the acquisition was funded through $360.9 million in net proceeds raised via its At-the-Market facility during the week. Since launching its ETH treasury strategy on June 2, 2025, SharpLink has seen rapid growth, positioning itself among leading firms investing heavily in Ethereum.
SharpLink also reported receiving 1,799 ETH in staking rewards, adding to the returns generated from Ethereum’s proof-of-stake system. Beyond digital assets, the company maintains approximately $200 million in cash reserves, which could support future purchases.
In addition, SharpLink has implemented a unique reporting measure called ETH Concentration, which tracks Ethereum holdings per 1,000 diluted shares. The company noted that this figure has more than doubled since June, now standing above 4.00 on a cash-converted basis.
The company’s board has also authorized a $1.5 billion stock buyback plan, approved on August 18, as part of its broader shareholder value strategy.
Despite these positive treasury developments, SharpLink’s stock (SBET) declined 8.15% to $19.17, marking one of its sharpest daily drops in recent weeks. The sell-off highlights the contrast between treasury growth and short-term equity market volatility. Still, SBET shares remain up 3% over the past five days, 150% year-to-date, and 140% compared to last year.
Co-CEO Joseph Chalom emphasized SharpLink’s commitment to building long-term shareholder value. With nearly 800,000 ETH in reserves and strong liquidity, the company is pursuing disciplined growth while also advancing its presence in online gaming, sports media, and blockchain solutions. 
