The Minnesota-based affiliate marketing firm SharpLink Gaming (ticker SBET) commenced its second ether purchase period between June 16 and June 20 to acquire 12,207 ETH for about $30.7 million, averaging $2,513 per ETH, according to a Tuesday release.
The move builds upon SharpLink’s 176,270.69 ETH purchase totaling $463 million on June 13, bringing the firm’s total ETH holdings to 188,478 ETH as it aims to become the largest corporate ether holder. SharpLink still appears to be the second-largest ether holder behind the Ethereum Foundation’s 213,072 ETH position, according to Arkham data.
Beyond buying ETH, SharpLink secured $27.7 million in net proceeds from selling 2,547,180 company shares through its at-the-market facility, which the firm plans to reinvest into ETH purchases between June 16-20. The firm also placed 100% of its ETH holdings into “staking solutions” and netted 120 ETH (valued at $293,811 as of writing) since June 2, the release continues.
“Increasing SharpLink’s ETH holdings underscores our forward-thinking approach to creating long-term value for our stockholders,” said Joseph Lubin, co-founder of the crypto infrastructure firm Consensys and chairman of SharpLink’s board of directors, in a statement. “As digital assets like ETH increasingly shape the future of finance and technology, we’re positioning SharpLink at the intersection of blockchain advancement and next-generation iGaming engagement. This move reflects our confidence in Ethereum’s utility and our commitment to exploring transformative technologies that can unlock new value for our business and stockholders, alike.”
Consensys led SharpLink’s $425 million private placement on June 2 to help the firm acquire ETH and enter the network’s staking, decentralized finance (DeFi), and other protocol activities, The Block previously reported. Lubin also joined SharpLink’s board as chairman following this private placement.
Ether is the second-largest cryptocurrency behind Bitcoin based on its market capitalization of $296.4 billion. ETH traded at $2,448.43, with the token’s price increasing 6.57% in the past 24 hours, according to The Block’s Ethereum Price Page as of 2:23 p.m. ET (18:23 UTC). Ether brought in $21.8 billion in trading volume within the past day.
SBET trades at $9.94 as of writing, up 9.6% on the day according to Nasdaq stock exchange data.
The Block reached out to SharpLink Gaming for additional comment.
© 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.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
