Sports activities betting platform SharpLink Gaming snapped up Ether final week because the cryptocurrency surged to close all-time highs.
SharpLink added 143,593 Ether (ETH) as ETH costs climbed above $4,700, based on a submitting with the US Securities and Trade Fee on Tuesday.
SharpLink’s newest ETH purchases got here at near-record costs, paying a median value of $4,648 per ETH, totaling $667.4 million.
The acquisition introduced SharpLink’s Ether holdings to 740,760 ETH, value about $3.2 billion at present market costs.
SharpLink stories 1,388 ETH in staking rewards
SharpLink additionally introduced it has generated 1,388 ETH in staking rewards, that means it has been deploying its ETH holdings to take part as a validator within the Ethereum proof-of-stake (PoS) community.
“As of Aug. 17, 2025, considerably all the ETH Holdings have been deployed in staking, together with via liquid staking,” SharpLink stated within the SEC submitting.
“We observe that points of our staking actions could also be topic to authorities regulation and steering topic to vary,” the corporate added.
Associated: Ether ETFs publish $197M outflows on Monday, second-largest ever
The brand new purchase got here shortly after SharpLink reported a $103 million internet loss for the second quarter of 2025, considerably contributed to by a paper loss from accounting for liquid staked Ether (LsETH).
SharpLink shares reacted to the information, with the inventory tumbling 12% on Friday. The inventory closed buying and selling at $20.10 on Monday, down 13.5% prior to now 5 buying and selling days, based on TradingView.
Ether shopping for frenzy: BitMine leads the race
SharpLink’s ongoing Ether shopping for comes amid huge institutional ETH purchases, with spot Ether exchange-traded fund (ETF) issuers recording $3.7 billion in inflows within the interval from Aug. 5 to Thursday.
BitMine, SharpLink’s largest ETH treasury rival, reported a 373,000 Ether buy Monday, boosting its complete holdings to 1.52 million ETH valued at about $6.6 billion.
Based on BitMine board chair Thomas Lee, the brand new ETH buy made BitMine the second-largest crypto treasury on the earth behind solely Michael Saylor’s Technique.
After reporting a modest $51.4 million Bitcoin (BTC) buy on Monday, Technique held a complete of 629,376 BTC as of Sunday, value round $72.7 billion at present market costs.
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