Key Takeaways
- ETH Holdings Near 800K: SharpLink Gaming’s total Ethereum holdings reached 797,704 ETH as of August 24, valued at approximately $3.7 billion.
- $361M Raised in One Week: The company generated $360.9 million in net proceeds via its At-the-Market equity facility between August 18 and 22.
- Strategic Accumulation Continues: 56,533 ETH were added during the week at an average price of $4,462, with $200 million in cash still available for further acquisitions.
- ETH Concentration Surges: SharpLink’s ETH Concentration rose above 4.00 on a cash-converted basis, more than doubling since the start of June.
SharpLink Gaming Inc (Nasdaq: SBET), one of the largest corporate treasuries holding Ether (ETH), announced a sharp increase in its digital asset reserves, with total ETH holdings climbing to 797,704 as of August 24, 2025. The expansion came alongside $360.9 million in net proceeds raised through its At-the-Market equity facility during the same week.
In its latest disclosure, the company revealed its updated Ethereum treasury figures and highlighted several recent milestones tied to its accumulation strategy. Sharplink acquired 56,533 (ETH) between August 18 and August 24 at an average price of $4,462, while its staking rewards have grown to 1,799 (ETH) since June 2.
As part of its broader capital strategy, the company also authorized a $1.5 billion stock buyback on August 18, aiming to enhance shareholder value alongside its aggressive (ETH) push.
The company also noted that its (ETH) Concentration metric, which it describes as a proprietary measure of (ETH) per 1,000 assumed diluted shares, has now surpassed 4.00 on a cash-converted basis, more than doubling since early June. Meanwhile, SharpLink continues to maintain approximately $200 million in cash, which it says is reserved for further acquisitions.
Throughout August, the company steadily ramped up its (ETH) holdings, nearly doubling its balance from the start of the month, with the most recent weekly addition pushing total reserves close to the 800,000 mark. These acquisitions were supported by successive equity sales through its ATM facility, including a substantial capital raise in the latest week that exceeded proceeds from the previous two reporting periods.
Share Price Wobbles Amid Aggressive ETH Expansion
The company’s aggressive Ethereum accumulation has not gone unnoticed by investors. Earlier this month, SharpLink secured an additional $400 million from five global institutional investors through a securities purchase agreement. However, Despite that bullish outlook, the stock has continued to wobble. After spiking to an intraday high of $28.26 following the August 12 announcement, SharpLink shares have struggled to hold momentum and now hover near the $20 mark.
Recent sessions show a clear pattern of sideways movement, with intraday swings reflecting ongoing uncertainty among investors. While Ethereum markets have seen record ETF inflows and rising prices, concerns over dilution and the pace of SharpLink’s accumulation strategy appear to be keeping the stock from regaining its earlier momentum.
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