SharpLink, a digital asset company, just dropped $264.5 million on Ether, scooping up 83,562 ETH between July 28 and August 3 at about $3,634 a pop. That brings their total stash to 521,939 ETH, worth close to $2 billion.
They’re staking all of it, earning rewards through Ethereum’s proof-of-stake system, and have already racked up 929 ETH, or over $3.3 million.
Source: SharpLink Gaming
SharpLink keeps tabs on their progress with an ETH-per-share number, which is up 83% since they started buying ETH back in June.
Chasing the ETH Crown
The company kicked off its ETH spree in June with a $463 million purchase, making it the top public ETH holder for a bit. But BitMine Immersion Technologies stole the lead, holding 833,137 ETH worth over $3 billion, ranking fourth among crypto treasury firms.
Others like Strategy, MARA Holdings, Twenty One Capital, the Ethereum Foundation, and PulseChain also hold big ETH piles.
Meanwhile, Ether ETFs took a hit with $465 million in outflows on Monday, including $375 million from BlackRock’s fund and $55.11 million from Fidelity’s.
Despite the market’s ups and downs, SharpLink’s betting big on ETH, aiming for long-term gains and staking profits.
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