SharpLink Gaming made headlines after securing $667 million worth of Ether last week when prices approached record-breaking levels.
The sports betting business acquired 143,593 Ether for an average of $4,648, spending a total of $667.4 million on the deals.
This significant acquisition increased Ether reserves of SharpLink to 740,760 coins, worth close to $3.2 billion currently in market terms.
Executives confirmed the company transferred almost all of its Ether into staking, in direct support of the proof-of-stake network infrastructure of Ethereum.
SharpLink has disclosed producing 1,388 Ether as staking rewards, which translates into handsome earnings while consolidating its long-term decentralized investment plan.
Filings by the company noted future staking activity could be subject to regulatory scrutiny, with possible refinements subject to future government rulings and fiscal advisings.
SharpLink Faces $103 Million Crypto Loss
Even after the rapid accumulation, SharpLink incurred a net loss of $103 million in the second quarter of the 2025 financial year.
Analysts attributed much of that figure to unrealized losses related to liquid staked Ether accounting and valuation requirements.
SharpLink shares fell sharply by 12 percent on Friday following the announcement and closed Monday at $20.10 a share.
The share has declined by 13.5 percent in the last five sessions, recent data gathered by TradingView analysts has shown.
At the same time, institutional demand for Ether continues gathering pace, with fund-based exchanges recording inflows of $3.7 billion between August 5 and Thursday.
SharpLink Reflects Institutional Crypto Market Confidence
SharpLink’s biggest rival, BitMine, bought 373,000 Ether on Monday, lifting its holdings to 1.52 million coins in total.
That purchase increased BitMine’s Ether reserves to around $6.6 billion, making the company the largest treasury holder in the industry today.
Board chair Thomas Lee confirmed the buy now positions BitMine as the world’s second-largest crypto treasury behind Strategy.
Michael Saylor’s Strategy preserves leadership, disclosing a report of owning 629,376 Bitcoin, worth approximately $72.7 billion at current market rates.
The strategic development of SharpLink is a reflection of growing institutional belief in Ethereum, even when company valuations around the world and sentiment among investors are defined by volatility.
