SharpLink’s Ether Holdings Approach $1 Billion in Gains Amid ETH Rally

SharpLink Gaming’s Ether holdings have seen significant appreciation in value as the cryptocurrency experienced a nearly 4.5% increase in just 24 hours, bringing the company’s unrealized profits close to $1 billion.

On Tuesday, the firm announced that it has achieved over $900 million in unrealized profit from its Ether purchases, following its strategy initiation on June 2.

Data from Strategic ETH Reserve indicates that SharpLink owns 838,730 ETH, valued at approximately $3.93 billion at current market rates, making it one of the largest ETH holders with 0.69% of the total supply.

“With 839k ETH on our balance sheet and no debt, SharpLink’s in a strong position to keep generating value for stockholders,” the company shared.

SharpLing Gaming records nearly $950 million in unrealized profit. Source: Strategic ETH Reserve

SharpLink Holds Almost 839,000 ETH

The company’s profits were boosted by Ether’s recent spike to $4,700—an increase of nearly 5% since Monday, when prices lingered around $4,500.

Moreover, SharpLink reported that its ETH concentration per share has nearly doubled since the inception of its accumulation plan, enhancing the earning potential for shareholders.

“This is the power of a productive and yield-bearing asset like ETH,” the firm remarked.

Strategic ETH Reserve data illustrated how SharpLink bolstered its holdings through consistent acquisitions over the summer months, which commenced with an initial purchase of 176,300 ETH, followed by subsequent buying bursts in July and August. Although the amount has remained stable close to the 839,000 ETH level since September, the surge in ETH price has substantially elevated the value of its holdings.

Ether Treasury Companies Hold Over 5% of ETH’s Total Supply

Other companies focused on Ether treasury activities have also continued to build their cryptocurrency assets, resulting in total corporate holdings exceeding 5.6 million ETH, valued at over $26.5 billion.

Leading these treasury firms is BitMine Immersion Tech, which commands 2.83 million ETH (approximately $13.25 billion), accounting for about 2.34% of the total ETH supply.

Following SharpLink and BitMine, ‘The Ether Machine’ is the third largest holder, owning close to 500,000 ETH, valued at over $2.32 billion.

In a broader context, Strategic ETH Reserve indicated that ETH held in exchange-traded funds (ETFs) has reached 6.83 million ETH ($32 billion), approximately 5.63% of the asset’s overall supply. In total, treasury companies and ETFs collectively possess 12.49 million ETH (around $58 billion), representing more than 10.3% of the total supply. Ether ranks as the second-largest crypto treasury asset globally, trailing Bitcoin, which has around 4 million coins held in corporate treasuries, valued at roughly $500 billion.