NASDAQ-registered Sharplink Gaming today announced that it had purchased an additional 56,553 Ethereum (ETH) for the week ending August 24th. The latest acquisition brings the company’s ETH holdings to approximately $3.7 billion.
Sharplink Gaming strengthens Ethereum holdings
According to today’s announcement, Sharplink Gaming is not refraining from purchasing ETH despite current market turbulence. The company said it purchased 56,553 ETH for the week that ends on August 24th.
In particular, Sharplink’s latest ETH purchase was to buy digital assets four times in a row each week in a few weeks. Commenting on the development of Joseph Charom, the co-executive officer said:
The successive implementation of Sharplink’s ETH financial strategy continues to demonstrate the strength of our vision and the commitment of our team. With around 800,000 ETH currently being preserved and strong liquidity available for ETH acquisitions, it focuses on supporting a broader ethical ecosystem, focusing on building long-term value for shareholders.
As Chalom emphasized, Sharplink’s ETH reserve is approaching the 800,000 milestone, currently standing at 797,704 ETH. The company’s average purchase price during its latest acquisition was $4,462 per ETH.
Additionally, the company has added 1,799 ETHs through staking since June 2nd. Sharplink also maintains approximately $200 million in cash reserves allocated for future ETH purchases.
Meanwhile, the Ethereum concentration ratio, a unique metric developed by the Sharplink game, has risen to 3.80. This figure reflects strong asset density per share on a fully diluted basis, providing shareholders with a transparent measure of ETH exposure per share.
At the time of writing, Sharplink Gaming shares were trading at $19.42. Over the past six months, the stock has won an impressive 315%, 315%. This is primarily supported by its ETH financial strategy.
Is ETH going to replace Bitcoin with the company’s balance sheet?
Bitcoin (BTC) remains a dominant cryptocurrency with a market capitalization of over $1 trillion, but companies are increasingly warming up the idea of holding ETH as part of their financial strategy.
recently Report From Vaneck, we suggested that ETH could ultimately serve as a more powerful reservoir worth more than BTC. In a similar memo, Ethereum Treasury Etazilla announcement Yesterday, the company expanded its holdings to more than 102,000 ETH.
Still, not all are equally certain about the expected advantage of ETH over BTC. Second Quarter 2025, Galaxy Digital Boost Bitcoin Holding with 4,272 BTC reduces its ETH exposure. At press time, ETH will trade at $4,545, a 0.8% decrease over the past 24 hours.
Featured images on Unsplash.com, Yahoo! Charts on Finance and TradingView.com
