SharpLink Gaming Deepens Ethereum Bet, $SBET Shares Rally Amid Strategic Crypto Pivot

SharpLink Gaming Inc. (Nasdaq: SBET) has significantly expanded its Ethereum holdings, acquiring an additional 9,468 ETH for $22.8 million and bringing its total treasury to 198,167 ETH as of July 2025. The company’s aggressive crypto strategy has seen it invest over $517 million in Ethereum this year, making it one of the most prominent corporate buyers of ETH in 2025.

SharpLink’s entire Ethereum position is now staked, generating passive income and contributing to the security of the Ethereum network. Since June, the company has earned over 220 ETH in staking rewards, and its ETH-per-share metric has surged by 17.7% in less than a month. This move underscores SharpLink’s long-term commitment to digital assets and signals a deep conviction in Ethereum’s role as foundational infrastructure for the future of digital commerce and decentralized applications.

The company’s stock, $SBET, responded positively to the latest acquisition, rising over 7% following the announcement. Analysts attribute this surge to growing market confidence in SharpLink’s pivot from a gambling affiliate business to a major Ethereum holder. The company has also been approved for options trading on Nasdaq, further cementing its status as a notable player at the intersection of traditional finance and digital assets.

SharpLink has funded its Ethereum purchases through a combination of a $1 billion at-the-market (ATM) equity facility and a $450 million private capital raise, with participation from major investors such as ConsenSys, Galaxy, and Pantera Capital. The company’s board now includes Ethereum co-founder Joseph Lubin as chairman, adding further credibility to its crypto-focused strategy.

Industry observers view SharpLink’s moves as a bold step, likening it to MicroStrategy’s high-profile Bitcoin accumulation, and highlighting the company’s potential to reshape how public firms participate in the digital asset ecosystem.