SharpLink, a U.S. sports‑betting company, is buying lots of Ether (ETH) to beef up its digital wallet. It just scooped up 79,949 ETH—worth about $259 million—in one go. That’s the biggest single purchase they’ve ever made.
SharpLink, a U.S. sports grabbed nearly 80,000 ETH at around $3,238 each.
Before that, they’d already bought 49 million dollars of ETH last week.
Now SharpLink holds around 360,807 ETH, a stash worth over $1.3 billion.
SharpLink is trying to be the top corporate holder of ETH. A few weeks back, they passed the Ethereum Foundation’s stash to take first place. The game plan? They’re selling stock to raise money and are pouring it straight into ETH.
Their big ETH reserve makes them part of a growing club of companies using crypto for treasury, like MicroStrategy did with Bitcoin—and lots of Ether now. They also stake almost all of their ETH, which means locking it up to earn small rewards—over 415 ETH earned so far. Raising up to $6 billion in stock shows they’re serious—ready to buy up to 1% of all circulating ETH.
SharpLink still has $96 million ready to spend. They’ll probably keep buying, and maybe they’ll launch ETH‑backed products or talk more about staking. Their stock keeps moving with each crypto move.
Conclusion:
SharpLink is all‑in on Ethereum. They’re using ETH like cash in a bank, stacking it through big buys funded by stock, and earning from staking. This is a new twist in how some companies treat crypto—as a treasury asset, not just something you trade.
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