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SharpLink Gaming has aggressively purchased Ethereum (ETH) as its price soared to near all-time highs last week. According to a filing made on Tuesday with the U.S. Securities and Exchange Commission (SEC), SharpLink acquired 143,593 ETH when prices surged above $4,700.

The company paid an average price of $4,648 per Ethereum, totaling $667 million for these recent purchases, which occurred at almost record-high prices.  SharpLink now owns a total of 740,760 ETH.

In addition, SharpLink disclosed that it has earned 1,388 ETH through staking rewards.

This indicates that the company has been actively participating in the Ethereum proof-of-stake (PoS) network as a validator. According to the SEC filing, as of August 2025, almost all of SharpLink’s ETH holdings have been allocated to staking, including liquid staking. The company also stated, “We acknowledge that certain aspects of our staking activities may be subject to government regulation, and guidance on this is subject to change.”

 

This new acquisition occurred shortly after SharpLink reported a second-quarter net loss of $103 million in 2025, primarily due to a paper loss from accounting for liquid staked ether (LsETH). SharpLink’s ongoing purchase of Ether is taking place amidst significant institutional interest in ETH, as spot Ether exchange-traded fund (ETF) issuers recorded $3.7 billion in inflows from Thursday to Friday of last week.

BitMine, which is SharpLink’s largest competitor in ETH treasury holdings, announced that it had acquired 373,000 ETH, bringing its total holdings to 1.52 million ETH, valued at $6.6 billion.