Ethereum treasury SharpLink Gaming holds 728,804 ETH worth $3.4 billion

Key Takeaways

SharpLink Gaming disclosed holding 728,804 ETH, positioning itself among the largest corporate Ethereum treasuries.
Nearly 100% of its holdings are staked, generating over 1,300 ETH in rewards and marking a strategic focus on ETH as a new financial core asset.

SharpLink Gaming, one of the world’s largest corporate holders of Ethereum (ETH), disclosed Friday that its Ethereum holdings have reached 728,804 units.

With ETH trading at $4,642 at press time, the stash is valued at approximately $3.4 billion. SharpLink is currently the second-largest Ethereum treasury company, only behind BitMine Immersion Technologies, which has accumulated over 1 million ETH.

“Our second quarter marked the exciting launch of SharpLink’s ETH treasury strategy, which has positioned us at the center of a transformational opportunity in global finance and technology,” said Joseph Chalom, co-chief executive officer at SharpLink Gaming. “In the short period since launching our strategy, we’ve raised significant capital and scaled our ETH holdings in a highly accretive manner.”

According to Joseph Lubin, Ethereum co-founder and Consensys CEO, Ethereum functions as the trust layer of the decentralized economy, and SharpLink’s aggressive ETH accumulation, staking, and strategic management make it unique among public companies. He said the firm is focused on building shareholder value via yield generation and disciplined capital use.

“Ethereum is the trust layer for the decentralized economy, and SharpLink’s aggressive accumulation, staking, and strategic management of ETH set it apart from any other public company in the market,” Lubin stated.

Earlier this month, the company secured a $200 million investment from four global institutional investors to expand its Ethereum (ETH) treasury. The firm plans to use the proceeds to augment its ETH positions, strengthening its rank as the top corporate holder of ETH.

Apart from updating its ETH holdings, SharpLink reported Q2 2025 revenue of $700,000, down from $1 million a year earlier, and a net loss of around $103 million versus a $500,000 loss in Q2 2024, driven mainly by an $87.8 million non-cash impairment on liquid staked ETH and $16.4 million in non-cash stock-based compensation.