SharpLink Gaming Becomes Second-Largest Corporate Holder of Ethereum with $3.3B
SharpLink Gaming, Inc. (Nasdaq: SBET) reported second-quarter results on August 15, 2025, establishing itself as a major corporate holder of Ethereum, second only to Bitmine.
- The company holds 728,804 ETH, valued at over $3.3 billion.
- Capital formation accelerated with over $2.6 billion raised through various offerings.
- Nearly all ETH is staked, generating cumulative rewards of 1,326 ETH since the strategy's inception.
- Board appointments include Ethereum co-founder Joseph Lubin as chairman and former BlackRock executive Joseph Chalom as co-CEO.
- Partnership established with Consensys for treasury operations.
Market Reaction:
- Trading volume surged, resulting in nearly 200% increase in share price amid investor interest in Ethereum exposure.
- Quarterly revenue was $0.7 million with a net loss of $103.4 million attributed to non-cash impairments and stock-based compensation.
- Despite management's reassurances about temporary market conditions, shares dropped nearly 15% following the report.
SharpLink's strategic moves position it as a significant player in the Ethereum treasury landscape, trailing only Bitmine's holdings.