Joseph Lubin-backed SharpLink Gaming has purchased an additional $295 million worth of Ethereum, as it continues its Ethereum accumulation strategy.
Onchain analytics provider Lookonchain reported, citing Arkham data, that SharpLink acquired 77,210 ETH worth approximately $295 million on Sunday evening.
The Nasdaq-listed firm, trading under the ticker SBET, currently holds about 438,017 ETH, worth $1.7 billion at current market prices, according to Lookonchain.
SharpLink is one of the largest Ethereum treasury companies. Last week, the company announced that Joseph Chalom, a former BlackRock executive, has joined SharpLink as co-CEO.
Joseph Lubin, Ethereum co-founder and chairman of SharpLink, said last week that Chalom’s decision to join SharpLink is a “resounding validation” of the company’s ETH treasury strategy.
Sharplink’s stock closed down 5.7% on Friday at $21.99, Yahoo Finance data showed. The stock, however, has risen 113.9% in the past month and 186.3% year-to-date.
Ethereum rose 2.9% in the past 24 hours to trade at $3,900 as of 1:00 a.m. Monday ET, according to The Block’s price page.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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