In the latest episode of “Wallets Gone Wild,” SharpLink Gaming lunged for yet another pile of Ether, stuffing $252 million worth of ETH into its digital mattress. Meanwhile, it was raking in $360.9 million by selling shares like hot cakes at a bake sale, courtesy of its ATM equity program (and no, that doesn’t mean the gaming company was loitering at a bank).
The curtain rises: SharpLink now clutches 797,704 Ether-cue the drumroll-which is a cool $3.7 billion. Plus, there’s still $200 million in cash, seemingly begging to be thrown at more coins. The company dropped this revelation on a Tuesday, as if Tuesdays weren’t dramatic enough.
“Our regimented execution of SharpLink’s ETH treasury strategy continues to demonstrate the strength of our vision,” crooned Co-CEO Joseph Chalom, probably while twirling his mustache. He’s sticking to the story that this is all about “building long-term value for our stockholders while simultaneously supporting the broader Ethereum ecosystem.” In other words: trust us, we’re not just hoarding digital tokens for fun-except maybe a little bit.
Last week, SharpLink snapped up 56,533 ETH at an average price of $4,462. That’s some serious shopping. Their staking rewards since June have climbed to 1,799 ETH-enough for a lifetime supply of imaginary internet pizzas. 🍕
Nearly 800,000 ETH-and Counting. Is That All?
Headquartered in Minneapolis (because where else would you put a mega ETH vault?), SharpLink started collecting Ether in June like grandmas collect coupons. Over four weeks, they bulked up from 438,000 ETH to nearly 800,000 ETH. That puts SharpLink somewhere between “corporate juggernaut” and “crypto dragon sitting on a pile of loot.” 🐉
But wait, there’s math! Enter “ETH Concentration”-a new metric measuring ETH per 1,000 assumed diluted shares. (Translation: are we rich yet?) The number is now above 4.0, which apparently is double what it was in June. Should shareholders be excited? Ecstatic? Confused? Yes.
As a side quest, SharpLink’s board just okayed a $1.5 billion stock buyback. Maybe they’ll use it to buy more coins, or perhaps just frame the shares for the office. In the meantime, SharpLink’s stock took a nosedive to $0.96, about as much as a burnt bagel, but hey, it twitched a little in after-hours trading, so dreams are alive! 🚀
Tom Lee: ETH Bottom Or Just Bottomless Fries?
Meanwhile, Fundstrat’s Tom Lee was busy declaring the ETH bottom-let’s hope he’s right and not just calling the plumber. Lee’s own ETH treasury firm, BitMine Immersion Technologies, flung $21 million at Ether and now sits on 1.72 million ETH worth about $7.5 billion. Somebody’s got to tell these folks about impulse control.
On X (formerly Twitter, currently existential crisis), Lee shared Fundstrat strategist Mark Newton’s chart wisdom: ETH at $4,300 offers “very good risk/reward,” which is code for “maybe, possibly, we hope.” He even floated a rebound toward $5,400. If it doesn’t pan out, you can find Lee auctioning slightly used crystal balls and magic eight balls next week.
BitMine just snagged 4,871 ETH for $21.3 million. Apparently, collecting ETH is the new sport, and these players are winning medals, trophies, and-if the price goes south-a lifetime supply of memes. 🏅🚫
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2025-08-26 17:23