TLDR
- SharpLink Gaming purchased 77,210 ETH worth $295 million, exceeding all Ether issued in the past month
- The company now holds over 438,000 ETH valued at more than $1.69 billion, making it the second-largest corporate ETH holder
- Former BlackRock executive Joseph Chalom was appointed as co-CEO, bringing 20 years of digital asset experience
- SharpLink filed to increase its stock sale from $1 billion to $6 billion, with proceeds going toward more ETH purchases
- The company staked most of its newly acquired ETH to earn staking rewards
SharpLink Gaming has purchased another 77,210 Ether tokens worth $295 million, marking one of the largest single corporate acquisitions of the cryptocurrency. The purchase amount exceeds the total net issuance of Ether across the entire network over the past 30 days.
SHARPLINK GAMING BUYS MORE #ETHEREUM! 🚀
THEY HAVE BOUGHT ANOTHER 77,210 ETH!
TOTAL HOLDINGS: 438,017 ETH pic.twitter.com/pmj9W7jfZB
— The Moon Show (@TheMoonShow) July 28, 2025
The technology company staked most of the newly acquired ETH to generate staking rewards. This latest purchase brings SharpLink’s total holdings to more than 438,000 ETH, valued at over $1.69 billion according to blockchain analytics firm Lookonchain.
SharpLink now ranks as the second-largest corporate holder of Ether globally. Bitmine Immersion Tech holds the top position with ETH holdings exceeding $2 billion in value.
The company emphasized Ethereum’s continuous operation compared to traditional banking systems. “Banks close on weekends. Ethereum runs 24/7,” SharpLink posted on social media platform X.
SharpLink filed an amended prospectus with regulators on July 18 to increase its planned stock sale from $1 billion to $6 billion. The majority of proceeds from this expanded offering will fund additional ETH purchases.
New Leadership from BlackRock
The company announced the appointment of Joseph Chalom as co-CEO on Friday. Chalom spent 20 years at BlackRock, the world’s largest asset management firm, where he led digital asset and blockchain initiatives.
During his tenure at BlackRock, Chalom spearheaded the firm’s entry into cryptocurrency markets. He played a key role in launching BlackRock’s spot ETH exchange-traded fund and served on the board of tokenization firm Securitize.
Current CEO Robert Pythian will transition to president over the next quarter while remaining on the company’s board. The leadership change reflects SharpLink’s continued focus on cryptocurrency treasury operations.
In May, the company appointed Consensys CEO Joseph Lubin as chairman of its board of directors. Lubin co-founded Ethereum and leads the blockchain development firm Consensys.
Corporate ETH Accumulation Grows
SharpLink’s aggressive buying strategy began in May when it pivoted to focus on Ethereum as a treasury asset. Since implementing this strategy, the company has acquired over $1.3 billion worth of ETH tokens.
Bitmine Immersion Technologies announced it holds more than 566,000 ETH worth over $2 billion. The company has set a goal of accumulating at least 5% of ETH’s total supply, equivalent to 6 million tokens worth more than $23 billion.
Corporate entities and ETFs collectively hold 8.12 million Ether tokens, representing 6.73% of the total supply. This amounts to more than $31 billion in value according to Strategic ETH Reserve data.
The concentrated buying by corporations and institutional investors through ETFs could create supply constraints for ETH. Such dynamics have the potential to influence token pricing through reduced availability.
SharpLink’s latest purchase exceeded the 72,795 ETH that was issued across the Ethereum network in the past 30 days. The company continues to stake its holdings to earn additional rewards from network participation.
