SharpLink Gaming Acquires 143,593 Ethereum for Over 500 Million Dollars | Bitcoinist.com

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure SharpLink Gaming (NASDAQ: SBET) continues to accumulate Ethereum (ETH), strengthening its position among publicly traded companies with the largest cryptocurrency reserves. According to the latest update, the company acquired 143,593 ETH in the week between August 10 and August 17, 2025, bringing its total reserves to over 3 billion dollars.

SharpLink Gaming further expands its treasury in ETH

In an official statement, the Minneapolis-based company confirmed that it financed the operation through 537 million dollars in net proceeds raised during the same period.

• 390 million dollars were raised through a registered direct offering that concluded on August 11.
• Another 146 million dollars have been generated through its ATM structure (at-the-market).

The purchase was made at an average price of $4,648 per ETH, about 8% higher than the current market price. With this operation, SharpLink Gaming's total reserves have risen to 740,760 ETH.

Since the launch of its treasury strategy on June 2nd, the company has already accumulated 1,388 ETH in staking rewards. Furthermore, it still holds 84 million dollars in liquidity ready for further acquisitions of Ethereum.

BitMine remains the absolute leader for ETH reserves

Despite the size of its reserves, SharpLink Gaming remains behind BitMine Immersion Technologies, currently the largest treasury manager in ETH in the world and the second largest holder of cryptocurrencies globally.

As of August 18, 2025, BitMine owns over 1.5 million ETH, worth over 6.6 billion dollars, purchased at an average price of $4,326 per unit. The company emphasized the crucial role of the GENIUS Act and the SEC Project Crypto as key regulatory developments for the digital asset sector in 2025.

The importance of favorable regulations

The GENIUS Act represents the first U.S. law regulating stablecoins, requiring that they be fully backed by liquid assets and subject to audits. Moreover, in the event of insolvency, stablecoin holders have absolute priority on reimbursements.

The Project Crypto, on the other hand, is the SEC initiative aimed at modernizing the rules on digital assets, introducing:

• clearer classifications,
• updated custody standards,
• incentives for the creation of tokenized markets and super-apps with a single license for crypto services.

These regulatory developments have reduced legal uncertainty and encouraged institutional participation, increasing investor confidence in Ethereum and the entire crypto market.

Fluctuations in the price of Ethereum

Despite the more favorable regulatory framework and accumulation by listed companies, ETH remains subject to short-term fluctuations. Recent data shows that several hedge funds are opening short positions on the token.

At the time of writing, Ethereum is trading at $4,195, down 1.6% in the last 24 hours. Analysts believe that, after the phase of volatility, ETH may resume its upward trend and aim for new all-time highs.

SOURCE: TRADING VIEW

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