ETH Frenzy: SharpLink’s $100M Shopping Spree 🚀

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Ah, the eternal conundrum: what to do with a spare $100 million? For SharpLink Gaming, the answer was obvious: buy more Ethereum, of course! 🤑

In a move that’s being hailed as a bold strategy (or a reckless gamble, depending on who you ask), SharpLink has doubled down on its Ethereum Treasury strategy with a whopping purchase of over 31,000 ETH.

The Ethereum Stash: A $45 Million Unrealized Profit (and Counting)

According to the all-seeing eyes of blockchain data, SharpLink acquired 21,487 ETH on July 12, shelling out a cool $64.26 million in the process.

But that wasn’t enough, oh no. SharpLink had to go and split the acquired ETH between two platforms, because why put all your eggs in one basket, right? 🤣 They purchased 14,693 ETH from Galaxy Digital for $43.89 million and 6,804 ETH from Coinbase Prime for $20.37 million.

And if that wasn’t enough, they went and bought another 10,000 ETH the day before, directly from the Ethereum Foundation for $25.7 million. Because who needs a diversified portfolio, anyway? 🤷‍♂️

Now, some of you might be thinking, “But what about the Ethereum Foundation’s sale? Doesn’t that mean they’re abandoning ship?” Fear not, dear reader, for the Foundation has assured us that the funds will be used for noble pursuits, such as protocol research, community grants, and ecosystem development.

As Binji Pande, a contributor to the Foundation, so eloquently put it: “This went to a ETH holding company; the microstrategy of ETH: basically it went to the most diamond handed buyers possible. that’s quite literally their whole thing; you may as well considered this ETH as taken out of the supply/burned.”

SharpLink’s latest purchase came as ETH crossed the $3,000 threshold on July 11 for the first time since February 2025. Because who needs a stable market, anyway? 🚀

Since June, SharpLink has accumulated around 253,000 ETH as part of its ETH Treasury strategy. And what’s the plan, you ask? Well, they’re staking all of it, of course! Because what could possibly go wrong? 😅

According to Arkham Intelligence data, this approach has led to an unrealized profit of approximately $45 million. Not bad for a few months’ work, eh? 🤑

And what does SharpLink’s Chairman and Ethereum co-founder, Joseph Lubin, have to say about all this? Well, he’s quite optimistic, of course! 🌟

“We see this as the start of something bigger – a model for how mission-driven organizations can work to advance our ecosystem’s shared goals of decentralization, economic empowerment and protocol-native finance,” he stated, with a straight face, no doubt. 😊

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2025-07-13 14:21