- SharpLink Gaming has acquired a total 360,807 ETH, valued at over $1 billion.
- Ethereum co-founder and founder of Consensys, Joseph Lubin, has endorsed SharpLink’s Ethereum purchases as a commitment to the asset’s vision.
- An increasing number of corporate firms are turning to Ethereum over Bitcoin.
SharpLink Gaming has acquired another 79,949 ETH, as its Ethereum treasury continues to grow over $1 billion, further cementing its position as the largest corporate Ethereum holder.
Joseph Lubin, co-founder of Ethereum and founder of Consensys, previously commended the firm’s purchases as a long-term commitment to the digital asset’s vision.
SharpLink Gaming Accumulates ETH
On Tuesday, July 22, sportsbook marketing firm SharpLink acquired an additional 79,949 ETH for a total $258 million at an average price of $3,238.
The move marks its largest weekly purchase to date, as its treasury continues to grow over the $1 billion mark.
According to a press release , the company’s total treasury sits at 360,807 ETH, up 29% from the previous week.
On July 17, the company acquire 20,279 ETH, bringing its total holdings to 307,362 ETH.
According to on-chain data , the firm added 10,614 ETH worth $35.62 million from Coinbase to its reserve, then an additional 10,854 ETH worth $34.37 million.
The firm has been aggressively buying Ethereum in batches of 10,000 up to 25,000, as it races to pile on its strategic reserve.
Joseph Lubin Endorses Purchase
SharpLink’s entry into Ethereum prompted Consensys to lead the firm’s $425 million fundraising round in June.
Following a recent purchasing spree, Joseph Lubin, Consensys founder and a key Ethereum developer, praised the move as a strategic and enduring commitment:
“At a time when Ethereum is entering a new era of institutional relevance, we are proud to support the network’s long-term strength and decentralization mission,” he said.
“Moreover, we see this as the start of something bigger – a model for how mission-driven organizations can work to advance our ecosystem’s shared goals of decentralization, economic empowerment and protocol-native finance,” Lubin added.
As part of Consensys’ support, Lubin has become Chairman of SharpLink to help guide the firm’s integration of Ethereum “into its core operations and long-term vision.”
Corporate Shift Toward Ethereum
A broader trend is emerging in the corporate world, with Ethereum increasingly taking precedence over Bitcoin in some digital asset strategies.
One prominent example is Bit Digital, a digital asset firm that was previously focused on building a Bitcoin-centric treasury.
On July 7, the company announced it had sold 280 Bitcoin and would use those funds, alongside proceeds from a recent public offering, to acquire over 100,000 ETH.
“As of today, Bit Digital has accumulated over 100,000 ETH,” the company wrote.
“But we are not new to Ethereum, nor to our conviction in its opportunity,” they added.
Several factors have driven this shift.
Leading financial institutions like BlackRock, Franklin Templeton, and PayPal are building on Ethereum, underscoring its central role in financial innovation.
There is also growing anticipation that the U.S. Securities and Exchange Commission (SEC) may approve Ethereum ETFs with staking capabilities, transforming them into income-generating instruments via staking rewards.
At the same time, Ethereum has strengthened its leadership in tokenized real-world assets (RWAs), hosting over $7 billion in assets such as U.S. Treasuries and equities, all backed by its secure and transparent infrastructure.
While Bitcoin maintains its reputation as “digital gold,” Ethereum is increasingly viewed as a high-growth technology platform aiming to become an integral part of the financial system’s future.
