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

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

Nasdaq-listed SharpLink Gaming continues to expand its Ethereum (ETH) reserves. In the latest development, the firm purchased 143,593 ETH over the past week, bringing its total digital asset holdings to over $3 billion.

SharpLink Gaming Increases Ethereum Holdings, Again

According to a statement issued today, Minneapolis-based SharpLink Gaming acquired 143,593 ETH between August 10 and August 17. The firm raised $537 million in net proceeds during the same period to finance the ETH purchase.

Related Reading: Bitmine And Donald Trump Spent The Weekend Stacking Ethereum, Here’s How Much They Got

Specifically, SharpLink Gaming raised $390 million through a registered direct offering, which closed on August 11. Another $146 million was raised through its at-the-market (ATM) facility over the past week.

The company’s official announcement revealed that the latest cryptocurrency purchase had an average price of $4,648 per ETH – about 8% higher than the asset’s current market price. This acquisition increases SharpLink Gaming’s total holdings to 740,760 ETH.

In addition, the firm’s total staking rewards – ETH earned as rewards for staking on the Ethereum network – have surged to 1,388 since launching its treasury strategy on June 2. Notably, SharpLink Gaming still has nearly $84 million available for further ETH acquisitions.

Despite these sizable reserves, SharpLink Gaming remains behind BitMine Immersion Technologies in total ETH holdings. BitMine recently claimed the top spot for ETH treasury management globally and ranks as the second-largest crypto treasury overall.

As of August 18, BitMine held ETH worth more than $6.6 billion, totaling over 1.5 million coins purchased at an average price of $4,326 per unit. The firm highlighted the GENIUS Act and the US Securities and Exchange Commission’s (SEC) Project Crypto as pivotal developments for the digital assets industry in 2025.

Importance Of Favorable Crypto Regulations

To recall, the GENIUS Act is the first US law regulating stablecoins, requiring them to be fully backed by liquid assets and subject to audits. It also prioritizes stablecoin holders in bankruptcy, ensuring claims on reserves are settled first.

Related Reading: US Treasury Calls For Public Input To Combat Crypto Crime Under New GENIUS Act

Meanwhile, Project Crypto is an SEC initiative to modernize securities rules for digital assets, offering clearer classifications, custody standards, and safe harbors. It also encourages tokenized markets and single-licensed “super-apps” for crypto services.

Favorable regulations like the GENIUS Act and Project Crypto have established clearer legal frameworks, reducing uncertainty and encouraging institutional participation in the crypto market. This clarity has boosted investor confidence in Ethereum and other digital assets, attracting more capital and supporting broader adoption.

That said, ETH may still experience temporary fluctuations before resuming its uptrend to new all-time highs, as recent data suggests hedge funds are shorting the digital asset. At press time, ETH trades at $4,195, down 1.6% over the past 24 hours.

ethereum
Ethereum trades at $4,195 on the daily chart | Source: ETHUSDT on TradingView.com
Featured image from Unsplash.com, chart from 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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