- SharpLink raised $46.6M in equity sales, funding part of its $177M Ethereum purchase.
- Corporate ETH treasuries surged past $12B in August, led by SharpLink, BitMine, and The Ether Machine.
SharpLink Gaming (SBET), a Minnesota-based company running an ether-focused treasury, said it bought 39,008 ETH last week. The purchase averaged $4,531 per coin, costing around $177 million. The move pushes total holdings to 837,230 ETH, valued near $3.6 billion as of Tuesday.
NEW: SharpLink acquired 39,008 ETH at an average price of ~$4,531, bringing total holdings to 837,230 ETH, valued at ~$3.6B.
Key highlights for the week ending Aug 31st, 2025:
→ Raised $46.6M through the ATM facility
→ Added 39,008 ETH at ~$4,531 avg. price
→ Staking… pic.twitter.com/dy7x1Ux0NY— SharpLink (SBET) (@SharpLinkGaming) September 2, 2025
Most of the purchase was funded through SharpLink’s equity program. The firm reported raising about $46.6 million from at-the-market sales during the week ending August 31. SharpLink added that it still has more than $71 million in cash reserved for further ether buys.
Treasury Strategy and Rewards
In June, SharpLink transitioned to an ether-centered treasury model and has already earned 2,318 ETH in staking rewards. The firm said its in-house “ETH concentration” metric has risen to 3.94, signifying almost four dollars of ETH exposure per dollar of cash if reserves are fully utilized.
In May, Joseph Lubin, Ethereum co-founder and chief executive officer of Consensys, became SharpLink’s chairman after the private investment round of $425 million, led by Consensys and other investors.
Growing Corporate ETH Treasuries
SharpLink remains one of the largest public Ethereum holders as corporate ETH treasuries expand rapidly. Market data shows combined holdings grew from about $4 billion in early August to over $12 billion by the end of the month.
Tom Lee of Fundstrat’s BitMine Immersion recently revealed his $8.1 billion worth of 1.87 million ETH. The Ether Machine, on the other hand, has successfully completed its $654 million private funding, gaining 150,000 ETH from a longtime Ethereum investor, Jeffrey Berns. This brings the total to over 345,000 ETH, which is to be used as a foundation for the planned Nasdaq listing.
Elsewhere, Yunfeng Financial Group, a Hong Kong-listed company with links to Jack Ma, has purchased 10,000 ETH valued at approximately $44 million, paid out of internal funds. This is in line with their strategy to extend operations into Web3, digital currency, real-world assets, and AI.
As of press time, ETH price traded at around $4300, indicating a minor decline in the past 24 hours but 3% increase in the past week.
