SharpLink Acquired 143,593 ETH at ~$4,648, Bringing Total Holdings to 740,760 ETH
SharpLink, led by Ethereum co-founder Joseph Lubin, announced that the company invested $667 million to acquire 143,593 ETH at a high price of $4,648 per Ether, bringing its total holdings to 740,760 ETH, with a market value exceeding $300 million. Following the financial report released last week, SharpLink’s stock price declined significantly due to accounting recognition of substantial impairments from staking Ethereum. Despite continued purchases, the stock dropped another 8% after buying at recent high prices, indicating a lack of investor confidence.
NEW: SharpLink acquired 143,593 ETH at ~$4,648, bringing total holdings to 740,760 ETH
Key highlights for the week ending Aug 17, 2025:
- Raised $537M through ATM and direct offerings
- Added 143,593 ETH at ~$4,648 avg. price
- Staking rewards: 1,388 ETH since June 2 launch…pic.twitter.com/GSe6XzSAwW
— SharpLink (SBET) (@SharpLinkGaming) August 19, 2025
SharpLink Raises Over $500 Million, Holding 740,000 ETH
In the week ending August 17, SharpLink raised $537 million and spent $667 million to acquire 143,593 ETH at a cost of $4,648 per Ether, increasing its total holdings to 740,760 ETH, with a market value exceeding $300 million.
SharpLink Still Has $84 Million in Cash Yet to Be Deployed
SharpLink also has $84 million in cash yet to be deployed. The company has generated 1,388 ETH in rewards to date. SharpLink currently ranks second among known publicly listed Ethereum reserves, following BitMine, led by Tom Lee, which holds over 1.5 million ETH valued at nearly $6.2 billion. Ether Machine ranks third, holding 345,000 ETH.
Data source: strategicethreserve
Staking Ethereum Adversely Affects Financial Reports, SBET Drops 8%
SharpLink announced its second-quarter earnings last Friday. The company recorded a non-cash impairment loss of $87.8 million for the second quarter, as most of its ETH holdings were staked for yield, based on differing applicable accounting standards. (Is staking ETH adversely affecting financial reports? SharpLink incurs significant losses in Q2, with SBET stock price plummeting over 15%.)
ETH Concentration Metrics Reflecting SharpLink’s ETH Accumulation Strategy
The ETH concentration metric measuring the efficiency of SharpLink’s ETH accumulation strategy slightly decreased from 3.95 to 3.87 due to new stock issuance. However, as the stock price continued to decline, the mNAV (the ratio of current stock price to the value of its Ethereum holdings) increased slightly from 1.13 to 1.16. With the stock price lingering at low levels and the recently announced purchase price being deemed too high, the stock dropped another 8%, indicating persistent investor skepticism.
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