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) final week as ETH costs climbed above $4,700, in keeping with a submitting with the US Securities and Change Fee on Tuesday.
SharpLink’s newest ETH purchases got here at near-record costs, paying a mean worth of $4,648 per ETH, totaling $667.4 million.
The acquisition introduced SharpLink’s Ether holdings to 740,760 ETH, value roughly $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, which 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 had been deployed in staking, together with by way of 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 alter,” 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 web loss for the second quarter of 2025, considerably contributed by a paper loss from accounting for liquid staked Ether (LsETH).
SharpLink shares reacted to the information, with the inventory tumbling 12% final Friday. The inventory closed buying and selling at $20.1 on Monday, down 13.5% up to now 5 buying and selling days, in keeping with TradingView.
Ether shopping for frenzy: BitMine leads the race
SharpLink’s ongoing Ether shopping for comes amid huge institutional ETH shopping for, with spot Ether exchange-traded fund (ETF) issuers recording $3.7 billion in inflows within the interval from Aug. 5 to Aug. 14.
BitMine, SharpLink’s largest ETH treasury rival, reported a 373,000 Ether buy yesterday, boosting its complete holdings to 1.52 million ETH valued at about $6.6 billion.
In line with BitMine board chairman Thomas Lee, the brand new ETH buy made BitMine the second-largest crypto treasury on the planet behind solely Michael Saylor’s Technique.
After reporting a modest $51.4 million Bitcoin (BTC) buy yesterday, Technique held a complete of 629,376 BTC as of Sunday, value round $72.7 billion at present market costs.
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