The stock price of SharpLink Gaming, Inc. (NASDAQ: SBET) saw a significant increase, climbing 8.31% to $23.45 as of the previous check. This growing trend comes after the business announced a big acquisition of digital assets, which was a daring move into the blockchain economy.
In order to acquire 10,000 Ethereum (ETH) on the Ethereum mainnet for a total consideration of $25,723,680, SharpLink announced that it has reached a definitive agreement with the Ethereum Foundation (EF). The transaction formally closed on July 10, 2025, with the purchase price equal to $2,572.37 per ETH.
Developing Relationships
An important guardian of the Ethereum protocol, the Zug, Switzerland-based Ethereum Foundation funds and mentors Web3 developers and academics to promote the protocol’s development. Ethereum continues to be the leading blockchain platform for decentralized apps and smart contracts, and this partnership demonstrates how SharpLink supports Ethereum’s objectives for innovation and decentralization.
In what it describes as industry stewardship, SharpLink plans to decrease the amount of Ethereum in circulation and strengthen its long-term stability by purchasing, staking, and restaking the cryptocurrency.
Strategy for Capital Deployment and Cumulative Holdings
SharpLink further strengthened its crypto position by acquiring an additional 7,689 ETH between June 28 and July 4, 2025, at a weighted average of $2,501 per ETH, inclusive of associated fees. This raises the company’s remarkable overall Ethereum holdings to 205,634 tokens.
At the same time, SharpLink sold 5,499,845 common shares to raise $64.0 million in net proceeds under its At-The-Market (ATM) equity program. Interestingly, $37.2 million of this cash was obtained on July 3, 2025, but as of the conclusion of that day, it had not been used to buy Ethereum.
Improving Investors’ Financial Transparency
“ETH Concentration” is a new transparency statistic that SharpLink has established to increase insight into their changing digital asset strategy. By demonstrating a dedication to ethical, open crypto asset management, this action seeks to provide investors a better picture of the company’s exposure to ETH in relation to its entire ownership structure.
