- SharpLink Gaming (SBET, Financial) purchases 10,000 ETH from Ethereum Foundation for $25.7 million.
- The transaction marks SharpLink as the largest publicly traded company to adopt Ethereum as a primary treasury reserve.
- Chairman Joseph Lubin emphasizes long-term commitment with plans to stake and restake ETH.
SharpLink Gaming Inc. (SBET) has strategically advanced its cryptocurrency portfolio by purchasing 10,000 Ethereum (ETH) from the Ethereum Foundation. The acquisition, valued at approximately $25.7 million, establishes SharpLink as the largest publicly traded company to embrace Ethereum as its primary treasury reserve asset.
The purchase, executed on July 10, 2025, at a price of $2,572.37 per ETH, aligns with SharpLink's long-term vision of not merely investing but actively participating in the Ethereum ecosystem. Joseph Lubin, the Chairman of SharpLink and Co-Founder of Ethereum, described the move as a commitment to supporting the network’s decentralization and longevity.
In addition to holding Ethereum, SharpLink plans to engage in staking and restaking their ETH. This strategy aims to not only generate returns but also enhance the network's security and contribute to the ecosystem's overall health by reducing circulating supply.
This bold move reflects SharpLink's broader corporate strategy to leverage leading blockchain technologies, such as smart contracts and decentralized finance protocols, to innovate within the online gaming and sports betting industries.
