SharpLink Gaming Sees $900 Million Rise in Ethereum Profits After Shift to DAT
SharpLink Gaming has reported unrealized profits of over $900 million from its ETH holdings since altering its business strategy.
Since its treasury strategy launch on June 2, 2025, SharpLink Gaming has accumulated unrealized profits surpassing $900 million through its Ethereum holdings. This initiative has led the firm to double its ETH assets, which has positively affected its share values.
Targeting 1 Million ETH
SharpLink currently holds 839,000 ETH and has no debts. The company is approaching its ambitious goal of 1 million ETH.
In a recent post on X, the Nasdaq-listed company remarked:
“SharpLink is in a strong position to keep generating value for stockholders. This is the power of a productive and yield-bearing asset like ETH.”
Founded in 1995 in Minneapolis, SharpLink initially thrived by offering sports betting and online casino marketing services via its affiliate network, PAS.net. However, by mid-2025, the company pivoted towards becoming a treasury firm focused on Ethereum, driven by financial pressures and opportunities in the crypto space.
SharpLink has faced significant revenue challenges, noting a 24% decline in earnings and a 110% drop in net profit margins by March 2025. This situation coincided with a growing demand for crypto investments among traditional investors, stimulated by the popularity of Ethereum and Bitcoin ETFs, presenting a lucrative opportunity.
Rising to Prominence as an ETH Treasury
While SharpLink enhances its ETH holdings, BitMine Immersion Technologies holds the title of the largest publicly traded ETH treasury firm. Recently, BitMine increased its portfolio by 179,251 ETH, now reaching 2.83 million tokens valued at approximately $13 billion.
Additionally, BitMine has 192 Bitcoin worth around $24 million, $113 million in investments with Eightco Holdings, and $456 million available in cash. BitMine acquired its Ethereum at an average cost of $4,535 per token, yielding a notable unrealized gain against the current price of $4,625. Tom Lee, BitMine’s chairman, stated:
“We continue to believe Ethereum is one of the biggest macro trades over the next 10-15 years. Wall Street and AI moving onto the blockchain should lead to a greater transformation of today’s financial system. Most of this is happening on Ethereum.”
