by Enoch Mwathwa
SharpLink has continued expanding its Ethereum holdings despite facing market pressure on its stock. The company disclosed a purchase of 143,593 ETH between August 10 and August 17, 2025. The assets were acquired for $667.4 million at an average of $4,648 per ETH. While Ethereum’s value remains near its all-time high, SharpLink’s stock fell by almost 20% in the same week.
SharpLink Expands Ethereum Purchases at Elevated Prices
SharpLink confirmed in a Securities and Exchange Commission (SEC) filing that it bought 143,593 ETH within a week. The total purchase amounted to $667.4 million, with an average cost of $4,648 per ETH.
The company’s filing also revealed that by August 17, it held 740,760 ETH. Based on market prices at the time, this holding was valued at around $3.2 billion. The acquisition came when Ethereum was trading near $4,700, close to its previous all-time high.
NEW: SharpLink acquired 143,593 ETH at ~$4,648, bringing total holdings to 740,760 ETH
Key highlights for the week ending Aug 17, 2025:
→ Raised $537M through ATM and direct offerings
→ Added 143,593 ETH at ~$4,648 avg. price
→ Staking rewards: 1,388 ETH since June 2 launch… pic.twitter.com/GSe6XzSAwW— SharpLink (SBET) (@SharpLinkGaming) August 19, 2025
The approach of SharpLink resembles that of the companies that are hedging treasury assets using cryptocurrencies. Ethereum is also gaining popularity as an ideal digital asset, similar to the case with Bitcoin, in terms of its adoption by public firms. This indicates that SharpLink is deploying its reserves to be ready to see further institutional adoption.
Ethereum Staking Generates Additional Rewards
Another information revealed in the filing was that SharpLink has staked nearly all its Ethereum holdings. This lies in both direct staking and liquid staking, so it is possible to be flexible with staked assets.
The strategy has allowed the firm to receive a total reward of 1,388 ETH thus far. These rewards cost in the millions and create incremental growth on its balance sheet at the current prices. Staking is one of the rare methods that companies can use to earn repeated returns on crypto treasuries.
Industry insights observe that staking assists in averting the price of buying ETH at peak levels. But it ties up liquidity as well and has a risk of slashing. These notwithstanding, SharpLink is still gaining pace in Ethereum allocations.
Stock Value Declines as Ethereum Volatility Rises
Excessive acquisition of Ethereum has not paid off in the stock market so far for SharpLink. Statistics indicate that its shares, which have a ticker of SBET, have gone down by 19.85 percent in the last five days.
Ethereum itself saw a price drop during the same period. The asset fell from a multi-year high of $4,788.55 to $4,160.22.The pullback is being attributed by analysts to profit-taking following an ETF-fuelled rally.
SharpLink funds its purchases as a combination of the issuance of debt and equity. This causes leverage exposure, boosting profits and losses more than the price movement of Ethereum. Consequently, the share continues to be volatile in the firm in comparison with the asset.
#blockchain #crypto, #decentralized, #distributed, #ledger
