SharpLink purchases $667M in Ether at near record prices

3 hours ago

Sports betting level SharpLink Gaming snapped up Ether past week arsenic the cryptocurrency surged to adjacent all-time highs.

SharpLink added 143,593 Ether (ETH) past week arsenic ETH prices climbed supra $4,700, according to a filing with the US Securities and Exchange Commission connected Tuesday.

SharpLink’s latest ETH purchases came astatine near-record prices, paying an mean terms of $4,648 per ETH, totaling $667.4 million.

The acquisition brought SharpLink’s Ether holdings to 740,760 ETH, worthy astir $3.2 cardinal astatine existent marketplace prices.

SharpLink reports 1,388 ETH successful staking rewards

SharpLink besides announced it has generated 1,388 ETH successful staking rewards, meaning it has been deploying its ETH holdings to enactment arsenic a validator successful the Ethereum proof-of-stake (PoS) network.

“As of Aug. 17, 2025, substantially each of the ETH Holdings were deployed successful staking, including done liquid staking,” SharpLink said successful the SEC filing.

“We enactment that aspects of our staking activities whitethorn beryllium taxable to authorities regularisation and guidance taxable to change,” the institution added.

The caller bargain came soon aft SharpLink reported a $103 cardinal nett nonaccomplishment for the 2nd 4th of 2025, importantly contributed by a insubstantial nonaccomplishment from accounting for liquid staked Ether (LsETH).

SharpLink shares reacted to the news, with the banal tumbling 12% past Friday. The banal closed trading astatine $20.1 connected Monday, down 13.5% successful the past 5 trading days, according to TradingView.

Ether buying frenzy: BitMine leads the race

SharpLink’s ongoing Ether buying comes amid monolithic organization ETH buying, with spot Ether exchange-traded money (ETF) issuers recording $3.7 cardinal successful inflows successful the play from Aug. 5 to Aug. 14.

BitMine, SharpLink’s largest ETH treasury rival, reported a 373,000 Ether purchase yesterday, boosting its full holdings to 1.52 cardinal ETH valued astatine astir $6.6 billion.

According to BitMine committee president Thomas Lee, the caller ETH acquisition made BitMine the second-largest crypto treasury successful the satellite down lone Michael Saylor’s Strategy.

After reporting a humble $51.4 cardinal Bitcoin (BTC) acquisition yesterday, Strategy held a full of 629,376 BTC arsenic of Sunday, worthy astir $72.7 cardinal astatine existent marketplace prices.