Sharplink Adds $80M to Ethereum Treasury, Now Holds 859,000 ETH

SharpLink Gaming, Inc. (Nasdaq: SBET) has once again increased its Ethereum holdings, acquiring 19,271 ETH valued at approximately $80 million.

On-chain data from tracker Lookchain indicates that the transaction originated from a wallet identified as belonging to FalconX and was subsequently transferred to a corporate treasury-linked address controlled by SharpLink.

This latest acquisition brings SharpLink's total Ethereum reserves to approximately 859,400 ETH, which is currently valued at over $3.56 billion. This substantial holding positions the company as the second-largest known corporate holder of Ethereum, trailing only BitMine, which possesses more than three million ETH.

Data from Strategic ETH Reserve reveals that corporate balance sheets collectively hold around 5.98 million ETH, worth approximately $24.80 billion. This represents nearly 5% of all circulating Ether.

The purchase occurred after a period of inactivity in October and coincides with mixed market signals for Ethereum. Ethereum has seen a gain of about 5% in the past 24 hours and a similar increase over the last month, according to CoinMarketCap.

Broader market sentiment has been influenced by macroeconomic uncertainties, including a proposal from U.S. President Donald Trump to implement significant tariffs on Chinese imports starting November 1.

Seasonal trends may also be a contributing factor. Historically, the fourth quarter has been a less robust period for Ethereum. Nevertheless, corporate holdings within the cryptocurrency sector continue to expand.

How SharpLink Financed the Expansion

SharpLink has recently bolstered its financial position through a series of strategic financing initiatives. Earlier this month, the company successfully raised $76.5 million through a direct equity offering, selling 4.5 million shares at $17 per share, which was above its previous closing price of $15.15.

In August, SharpLink also secured $400 million in commitments from institutional investors, thereby increasing its liquidity for future treasury allocations.

The growth of SharpLink's Ethereum holdings has also yielded significant paper profits. Since June 2025, the company has accumulated over $900 million in unrealized gains, benefiting from the expansion and staking of its treasury during recent periods of price strength.