SharpLink Gaming Increases Ether Holdings by 19% in Weekly Purchases
SharpLink Gaming, Inc. (Nasdaq: SBET) added 83,561 Ether (ETH) to its reserves last week, boosting its total holdings to 521,939 ETH, the company said Tuesday in its weekly update. The figure represents a 19% rise from the previous week’s total of 438,190 ETH. The purchases were made between July 28 and Aug. 3, 2025, at an average price of $3,634 per token. The Minneapolis-based company reported raising $264.5 million in net proceeds through its At-the-Market (ATM) facility during the same period, which was used to fund the acquisitions. Capital Raising and New Metric Alongside its purchase update, SharpLink disclosed that it has introduced a new reporting measure called “ETH Concentration.” The metric is calculated by dividing the company’s Ether holdings by each 1,000 assumed diluted shares outstanding. For the week ending Aug. 3, ETH Concentration rose to 3.66 from 3.40 the previous week, representing an 83% increase since the company launched its Ether treasury strategy on June 2. The measure factors in both current outstanding shares and potential dilution from securities such as warrants, stock options and restricted stock units. The company emphasized that the calculation does not use the treasury stock method and excludes any assumed share repurchases. It also omits vesting conditions or restrictions that could limit the conversion of certain instruments. Staking Rewards and Strategy SharpLink said its staking rewards have reached 929 ETH since it began its treasury program in early June. The company has been purchasing Ether and holding it as a primary reserve asset, positioning its operations around Ethereum’s blockchain network. The company indicated it is exploring additional funding options — including debt, equity and equity-linked offerings — to expand its Ether reserves and increase its ETH Concentration. SharpLink, which operates in the sports betting technology and digital engagement sector, has been among the most active publicly traded companies accumulating Ether in recent months. Its weekly updates are intended to provide investors with transparency into the scale of its purchases and the performance of its holdings.
