Ethereum Treasury: SharpLink Gaming Holds 728,804 ETH Worth $3.4 Billion
Key Takeaways
- SharpLink Gaming has just announced that its Ethereum treasury now includes 728,804 ETH, making it one of the leading corporate holders of the cryptocurrency.
- Nearly all of this Ethereum is staked, generating more than 1,300 ETH in rewards, and positioning ETH as the core strategic asset of the company.
- SharpLink has secured a $200 million investment from four global institutional partners, which will be used to expand its Ethereum holdings further and solidify its market position.
Ethereum treasury SharpLink Gaming holds 728,804 ETH worth $3.4 billion
Ethereum treasury SharpLink Gaming holds 728,804 ETH worth $3.4 billion, establishing the firm as one of the world’s premier corporate custodians of the leading blockchain asset. The valuation comes at a time when the price of ETH hovered around $4,642, a figure highlighted in the Friday disclosure.
With this latest accumulation, SharpLink ranks second only to BitMine Immersion Technologies, which commands a portfolio exceeding one million ETH. The company’s strategy revolves on treating Ethereum not merely as a speculative ticker but as a foundational financial instrument that can generate passive income through staking and participate in the growing Decentralised Finance (DeFi) ecosystem.
Nearly 100 % of the Ethereum is actively staked, yielding more than 1,300 ETH in rewards each quarter. This staking model aligns the company’s treasury management with a fee‑based revenue stream, while the cumulative staking rewards reinforce shareholder value creation.
In a bid to sustain this momentum, SharpLink secured a $200 million investment from four global institutional partners early this month. The capital injection will be directed toward expanding its Ethereum holdings, deepening its staking allocation, and possibly exploring collateralised lending opportunities within the DeFi space to unlock additional liquidity.
While the company’s Q2 2025 revenue slipped to $700,000 from $1 million in the same quarter last year, it posted a net loss of $103 million. Much of the loss stems from a sharp $87.8 million non‑cash impairment of liquid staked ETH and a $16.4 million non‑cash stock‑based compensation expense. Despite the hit, SharpLink remains confident that its treasury strategy will generate long‑term upside for investors.
Joseph Lubin, co‑founder of Ethereum and CEO of ConsenSys, remarked, “Ethereum functions as the trust layer for the decentralized economy, and SharpLink’s aggressive accumulation and staking set it apart from any other public company.” His endorsement underscores the growing legitimacy of corporate treasury positions in the crypto sphere.
Looking forward, SharpLink plans to use the new capital to elevate its stake in Ethereum further, potentially transforming it into the largest single corporate holder. The company also intends to harness the increasing institutional appetite for crypto assets by exploring cross‑border utility tokens and token‑backed debt instruments.
