SharpLink Gaming Deepens Commitment to Ethereum with Major Purchase

POS Large Cap
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Between June 28 and July 4, SharpLink Gaming acquired 7,689 ETH at an average price of $2,501, bringing its total Ethereum holdings to 205,634 ETH.

The acquisition was funded through a $64 million raise via an At-The-Market (ATM) offering. The company indicated that additional ETH purchases may follow in the future.

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All of SharpLink’s ETH has been staked since June 2, generating 322 ETH in staking rewards. In addition, the company has launched an “Ethereum Concentration Index” to provide investors with greater transparency around its ETH holdings.

Despite the stock (SBET) being rated “Underperform” due to weak fundamentals and declining revenue, SharpLink’s strategic focus on Ethereum-based gaming could offer long-term growth potential.

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Not quite the same scale as MicroStrategy with Bitcoin, but SharpLink’s move feels like a mini version of it — a bold treasury bet on ETH instead of BTC. The difference is SharpLink is staking their ETH for yield and also building a product layer around it (the ETH Concentration Index), while MicroStrategy is purely holding BTC as a reserve asset. Interesting to watch how this ETH-centric strategy plays out. :joy: