Key Takeaways
- SharpLink Gaming has acquired a total of 837,230 ETH, valued at $3.6 billion.
- Chairman Joseph Lubin claimed the firm was at the “verge of a very significant inflection point in Ethereum adoption.”
- An increasing number of corporate firms are turning to Ethereum over Bitcoin.
Over the past month, SharpLink Gaming has acquired a further 39,008 ETH, bringing its total to over 800,000 ETH, cementing its position as one of the largest corporate ETH holders.
The company’s holdings now sit at 837,230 ETH, worth approximately $3.6 billion, according to the firm.
SharpLink Gaming Accumulates ETH
The firm announced on Tuesday, September 2, that it had acquired another 39,008 ETH at an average price of $4,531.
Sharplink added that it had raised $46.6 million through its at-the-market (ATM) facility.
This comes after SharpLink bought another 56,533 ETH while raising over $360 million through its ATM equity program for the week of Aug. 24.
“Our regimented execution of SharpLink’s ETH treasury strategy continues to demonstrate the strength of our vision and the commitment of our team,” said Joseph Chalom, Co CEO of SharpLink.
“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,” he added.
Talking to the Edge podcast recently, Chairman Joseph Lubin said the firm was at the “verge of a very significant inflection point in Ethereum adoption and Ethereum network usage,”
New Hire
On Friday, July 25, SharpLink Gaming announced that it had hired Joseph Chalom as its new co-CEO.
Chalom had previously spent two decades at BlackRock, and will be in charge of executing the company’s global strategy.
“Chalom’s appointment marks a major milestone in our mission to build the most trusted Ethereum treasury and bring Ethereum to the center of global finance,” SharpLink wrote on X.
It comes after the company nominated Consensys CEO and Ethereum co-founder Lubin as its chairman in May.
Joseph Lubin Endorses Purchase
Lubin previously commended the firm’s purchases as a long-term commitment to the digital asset’s vision.
SharpLink’s entry into Ethereum prompted Consensys to lead the firm’s $425 million fundraising round in June.
Following a recent purchasing spree, Joseph Lubin, Consensys founder and a key Ethereum developer, praised the move as a strategic and enduring commitment:
“At a time when Ethereum is entering a new era of institutional relevance, we are proud to support the network’s long-term strength and decentralization mission,” he said.
“Moreover, we see this as the start of something bigger – a model for how mission-driven organizations can work to advance our ecosystem’s shared goals of decentralization, economic empowerment and protocol-native finance,” Lubin added.
As part of Consensys’ support, Lubin has become Chairman of SharpLink to help guide the firm’s integration of Ethereum “into its core operations and long-term vision.”
Corporate Shift Toward Ethereum
A broader trend is emerging in the corporate world, with Ethereum increasingly taking precedence over Bitcoin in some digital asset strategies.
One prominent example is Bit Digital, a digital asset firm that was previously focused on building a Bitcoin-centric treasury.
On July 7, the company announced it had sold 280 Bitcoin and would use those funds, alongside proceeds from a recent public offering, to acquire over 100,000 ETH.
“As of today, Bit Digital has accumulated over 100,000 ETH,” the company wrote.
“But we are not new to Ethereum, nor to our conviction in its opportunity,” they added.
Several factors have driven this shift.
Leading financial institutions like BlackRock, Franklin Templeton, and PayPal are building on Ethereum, underscoring its central role in financial innovation.
There is also growing anticipation that the U.S. Securities and Exchange Commission (SEC) may approve Ethereum ETFs with staking capabilities, transforming them into income-generating instruments via staking rewards.
At the same time, Ethereum has strengthened its leadership in tokenized real-world assets (RWAs), hosting over $7 billion in assets such as U.S. Treasuries and equities, all backed by its secure and transparent infrastructure.
While Bitcoin maintains its reputation as “digital gold,” Ethereum is increasingly viewed as a high-growth technology platform aiming to become an integral part of the financial system’s future.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
