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- SharpLink Gaming raises $2.6B to expand Ethereum treasury to 729,000 ETH.
- Nearly all ETH is staked, generating steady rewards without selling assets.
- Despite Q2 loss, SBET shares remain up over 176% year-to-date.
SharpLink Gaming has cemented its position as one of the largest corporate holders of Ethereum, now controlling nearly 729,000 ETH. The milestone comes just weeks after launching its Ethereum-based treasury plan on June 2, 2025, which officially made ETH the company’s primary reserve currency.
In its Q2 2025 report, SharpLink revealed that over $2.6 billion was raised through PIPE and Registered Direct offerings to expand its Ethereum holdings. This aggressive acquisition strategy pushed the company’s “ETH Concentration” — a new metric showing ETH held per 1,000 diluted shares — from 2.00 to 3.95, reflecting rapid accumulation.
Institutional Demand Aligns with SharpLink’s Strategy
The firm’s Ethereum push comes amid surging institutional interest. U.S.-listed Ethereum ETFs purchased $1 billion worth of ETH as prices neared all-time highs. SharpLink added another $900 million in funding in the last week alone to further boost its treasury.
Nearly 100% of the company’s ETH is staked, generating 1,326 ETH in rewards without selling any assets. This staking strategy creates a steady yield stream while supporting long-term price appreciation potential.
Q2 Losses Weigh on SBET Stock Performance
Despite these Ethereum gains, SharpLink Gaming’s stock (SBET) closed down 9.45% at $21.25 following its earnings release. The drop was driven by a Q2 net loss of $103.4 million, partially caused by an $87.8 million write-down on liquid staked ETH and $16.4 million in share-based payments to Consensys, Ethereum’s largest software company and a new strategic partner.
Also Read: SUI Price Targets $7 ATH as Ethereum Rally Sparks Altcoin Season Hopes
Revenue also fell, with Q2 2025 sales at $0.7 million compared to $1.0 million a year earlier. Still, SBET has surged 176.76% year-to-date and 127.08% over the past 12 months.
Leadership Strengthens Long-Term Ethereum Vision
SharpLink’s commitment to Ethereum is reinforced by leadership changes. Ethereum co-founder Joseph Lubin has joined as Chairman of the Board, while Joseph Chalom, former digital assets head at BlackRock, is now Co-CEO. Both appointments signal a continued focus on staking yields, treasury growth, and leveraging Ethereum’s long-term upside.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
