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SharpLink Doubles Down On Ethereum, Buys Another 56,533 ETH To Enhance Reserves

Ash Tiwari
by Ash Tiwari
2 weeks ago
·
Posted in Ethereum
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Nasdaq-listed SharpLink Gaming disclosed today that it purchased an additional 56,553 Ethereum (ETH) during the week ending August 24. The latest acquisition brings the company’s total ETH holdings to approximately $3.7 billion.

SharpLink Gaming Enhances Ethereum Holdings

According to an announcement made today, SharpLink Gaming is not holding back from buying ETH despite the current market turbulence. The company stated it had purchased 56,553 ETH during the week ending August 24.

Related Reading: SharpLink Gaming Bolsters Ethereum Holdings With 143,000+ ETH Purchase Last Week

Notably, SharpLink’s latest ETH buy was its fourth consecutive weekly purchase of the digital asset in as many weeks. Commenting on the development Joseph Chalom, Co-Chief Executive Officer said:

Our regimented execution of SharpLink’s ETH treasury strategy continues to demonstrate the strength of our vision and the commitment of our team. With nearly 800,000 ETH now in reserve and strong liquidity available for further ETH acquisitions, our focus on building long-term value for our stockholders while simultaneously supporting the broader Ethereum ecosystem remains unwavering.

As Chalom highlighted, SharpLink’s ETH reserves are nearing the 800,000 milestone, currently standing at 797,704 ETH. The firm’s average purchase price during the latest acquisition was $4,462 per ETH.

In addition, the company has earned an extra 1,799 ETH through staking since June 2. SharpLink also maintains roughly $200 million in cash reserves earmarked for future ETH purchases.

Meanwhile, the Ethereum concentration ratio – a proprietary metric developed by SharpLink Gaming – has risen to 3.80. This figure reflects strong asset density per share on a fully diluted basis and provides shareholders with a transparent measure of ETH exposure per share.

At the time of writing, SharpLink Gaming shares were trading at $19.42, up 1.3% on the day. Over the past six months, the stock has gained an impressive 315%, primarily buoyed by its ETH treasury strategy.

sharplink
SharpLink Gaming shares are up more than 300% over the past six months | Source: Yahoo! Finance

Is ETH Going To Replace Bitcoin On Corporate Balance Sheets?

While Bitcoin (BTC) remains the dominant crypto asset with a market cap exceeding $1 trillion, companies are increasingly warming to the idea of holding ETH as part of their treasury strategy.

Related Reading: BitMine’s Ethereum Holdings Top 833,000, Becoming The Largest ETH Treasury Globally

A recent report from VanEck suggested that ETH could ultimately serve as a stronger store of value than BTC. On a similar note, Ethereum treasury firm ETHZilla announced yesterday that it had expanded its holdings to more than 102,000 ETH.

Still, not all are equally convinced about ETH’s supposed superiority over BTC. In Q2 2025, Galaxy Digital boosted its Bitcoin holdings with 4,272 BTC, while reducing its ETH exposure. At press time, ETH trades at $4,545, down 0.8% in the past 24 hours.

ethereum
Ethereum trades at $4,545 on the daily chart | Source: ETHUSDT on TradingView.com
Featured image from Unsplash.com, charts from Yahoo! Finance and TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

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