SharpLink Gaming adds $118 million worth of Ethereum, extending lead as largest corporate ether holder

SharpLink Gaming, the largest corporate holder of ether, acquired an additional 32,892 ETH ($118.8 million) on Thursday, as it appears to remain bullish on the outlook of Ethereum.The Nasdaq-listed firm, trading under ticker SBET, obtained 18,712 ETH from Galaxy Digital on Thursday evening (ET), followed by an additional 14,180 ETH from Coinbase Prime, according to data from Arkham Intelligence. Its latest ETH acquisition came after the company — originally a marketing and iGaming software firm — became the largest corporate holder of Ethereum earlier this week, with its holdings surpassing those of the Ethereum Foundation.SharpLink has been aggressively accumulating ether, adding 144,501 ETH over the past nine days, according to Lookonchain. It currently holds over 353,000 ETH, EmberCN reported, citing onchain data.On Thursday, the Consensys-backed company updated its prospectus with the SEC to drastically increase the amount of stock eligible for sale to $6 billion from the $1 billion initially proposed on May 30, possibly to further accelerate its ETH buying strategy.Ether has been on the rise amid a broader market rally. It traded up 8% in the past 24 hours at $3,605, according to The Block's Ethereum price page.Sharplink's stock closed down 2.62% on Thursday at $36.4, Yahoo Finance data showed. The stock, however, has risen 96.96% in the past five days and 373.96% year-to-date.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.