SharpLink Acquires Premium Ethereum, SBET Stock Price Declines by 8%
SharpLink Acquires 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 has invested $667 million to purchase 143,593 ETH at a high cost of $4,648 per ETH, bringing its total holdings to 740,760 ETH, with a market value exceeding $300 million. Following the release of its financial report last week, SharpLink’s stock price experienced a significant decline due to substantial impairments recognized from staking Ethereum. Although the company continues to buy coins, the stock has dropped by 8% after purchasing at recent highs, indicating insufficient investor confidence.
SharpLink Raises Over $537M, Holds 740,000 ETH
During the week ending August 17, 2025, SharpLink raised $537 million and spent $667 million to acquire 143,593 ETH at an average cost of $4,648, increasing its total holdings to 740,760 ETH, with a market value now surpassing $300 million.
SharpLink also has $84 million in cash yet to be deployed. The company has generated 1,388 ETH in staking rewards since its launch on June 2.
Currently, SharpLink ranks second among known Ethereum reserve publicly traded companies, 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 Impacts Financial Report, SBET Drops 8%
SharpLink reported its second-quarter earnings last Friday, revealing that the majority of its held ETH has been staked for yield. According to applicable accounting standards, the company recognized a non-cash impairment loss of $87.8 million in the second quarter.
(Staking ETH Impacts Financials? SharpLink Reports Significant Losses in Q2, SBET Stock Plummets Over 15%)
The concentration of SharpLink’s ETH accumulation strategy slightly decreased from 3.95 to 3.87 due to new share issuance. However, as the stock price continued to decline, the mNAV (the ratio of the current stock price to the value of its held Ether) slightly rebounded from 1.13 to 1.16. The stock price has lingered at low levels for an extended period, and with the recently announced high purchase price, the stock fell another 8%, reflecting ongoing investor skepticism.
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