Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Joseph Lubin’s SharpLink adds $177 million worth of Ethereum, raising treasury holdings to 837,000 ETH

Joseph Lubin’s SharpLink adds $177 million worth of Ethereum, raising treasury holdings to 837,000 ETH

The BlockThe Block2025/09/01 16:00
By:By Naga Avan-Nomayo

Quick Take SharpLink bought 39,008 ether at an average $4,531, raising its holdings to 837,230 ETH. The digital asset treasury firm still has $71.6 million in outstanding cash to fund more ether purchases.

Joseph Lubin’s SharpLink adds $177 million worth of Ethereum, raising treasury holdings to 837,000 ETH image 0

SharpLink Gaming (SBET), a Minnesota-based Ethereum treasury firm, said it bought 39,008 ether over the past week at an average price of about $4,531, bringing its holdings to 837,230 ETH valued near $3.6 billion as of Tuesday.

The purchase was funded largely through $46.6 million in net proceeds from the company’s at-the-market equity program for the week ended Aug. 31, according to a post on X . Average acquisition price suggests the company spent approximately $177 million buying ETH last week.

SharpLink noted that cumulative staking rewards since launching its ether-denominated treasury strategy on June 2 have reached 2,318 ETH.  It also reported more than $71.6 million in cash yet to deploy and said its internal “ETH concentration” rose to 3.94, up roughly 97% since early June. This metric tracks the ratio of ETH exposure to cash on a cash-converted basis. At current levels, it implies roughly four dollars of ETH for every dollar of cash if all deployable cash were swapped into ETH.

Joseph Lubin, the co-founder of Ethereum and founder/CEO of Consensys, was appointed Chairman of SharpLink in May 2025, following a $425 million private investment round led by Consensys and other investors.

The latest addition keeps SharpLink among the largest public corporate ether treasuries, and part of a broader balance-sheet trend this summer. The Block’s data dashboard shows ETH-focused digital asset treasuries swelling from roughly $4 billion in early August to more than $12 billion by month-end, paced by large purchases from SharpLink and BitMine Immersion . BitMine last week disclosed 1.71 million ETH and over $8.8 billion in combined crypto and cash.

On Sept. 2, SBET shares traded at $17.8 after closing 3.5% down on Friday, while ETH fell almost 2% to $4,300 amid a crypto market lull, according to The Block's price page .


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Is the biggest on-chain bull market about to break out? Are you ready?

The article believes that the crypto sector is experiencing the largest on-chain bull market in history. Bitcoin remains bullish in the long term, but its short-term risk-reward ratio is not high. There is a surge in demand for stablecoins, and regulatory policies will become a key catalyst. Summary generated by Mars AI. This summary is generated by the Mars AI model, and the accuracy and completeness of its content are still being iteratively updated.

MarsBit2025/09/09 22:17
Is the biggest on-chain bull market about to break out? Are you ready?

Ripple Expands Crypto Custody Partnership with BBVA in Spain

Quick Take Summary is AI generated, newsroom reviewed. Ripple and BBVA extend their partnership, offering digital asset custody services in Spain. The service supports compliance with Europe’s MiCA regulation. BBVA responds to growing customer demand for secure crypto solutions.References Ripple Official X Post Ripple Press Release

coinfomania2025/09/09 21:27