SharpLink Gaming Boosts Its Ethereum Treasury With 80k ETH Bet

SharpLink Gaming, backed by Consensys co-founder Joseph Lubin, has increased its Ethereum holdings by nearly 80,000 ETH. According to a press release , this addition brings the company’s total Ethereum holdings to 360,807 ETH, which is a 29% increase from last week. SharpLink Competes With Ether Machine The strategic purchase comes as Ethereum reaches a six-month high, with growing interest from institutions driving this momentum. Reports also revealed that ETH concentrations rose to 3.06, a 53% increase since the company launched its digital treasury strategy in June 2025. Likewise, the total Ethereum staking rewards have increased to 567 ETH. Notably, SharpLink’s recent acquisition puts it in a strong position as competition grows from Ether Machine, a new company quickly building its Ethereum reserves. Ether Machine plans to challenge SharpLink’s role as the largest public corporate holder of Ethereum, leading to a competition for control in the Ethereum treasury market. While SharpLink currently leads, industry experts are closely watching to see how Ether Machine responds. As both companies compete for dominance in the Ethereum market, this rivalry could increase market activity and attract more interest from large investors. SharpLink Expands Stock Sale to Boost ETH Treasury Recall that the Minneapolis-based tech company added $515 million worth of ETH to its treasury some days ago. The company announced it would increase the amount of common stock it can sell by an additional $5 billion. As such, it is raising its planned offering from $1 billion, initially filed on May 30, to $6 billion. SharpLink stated that it plans to use most of the proceeds from this expanded stock offering to acquire Ether. It will also allocate funds for working capital, operating expenses, and its affiliate marketing operations. If the company were to deploy the full $6 billion to purchase ETH at current prices, it would control nearly 1.38% of Ethereum’s circulating supply. It is worth noting that this will position SharpLink as a significant corporate holder in the ecosystem. SharpLink Reinforces its Position in the ETH Ecosystem SharpLink’s acquisition of ETH further deepens its association with the second-largest cryptocurrency by market capitalization. It is already touted as the world’s largest publicly traded company to adopt Ethereum as its primary treasury reserve asset. SharpLink (SBET) stock has also experienced a 130% surge in the past month, with the shares closing at nearly $26 on Monday. Meanwhile, as of the time of writing, Ethereum is trading at $3,721.25, according to data from CoinMarketCap . This brings the value of SharpLink’s holdings to approximately $1.3 billion, but DeFiLlama pegged the value at $933.92 million at the time of writing. The post SharpLink Gaming Boosts Its Ethereum Treasury With 80k ETH Bet appeared first on TheCoinrise.com .

Source: The Coin Rise