SharpLink Gaming Doubles Down on Ethereum Staking with $91 Million Bet
SharpLink Gaming, a Nasdaq-listed company, has further solidified its position as one of the largest institutional holders of Ether by adding 39,319 ETH to staking. This brings their total treasury to nearly 889,000 ETH, valued at approximately $91 million.
The move is part of SharpLink's strategy to transform its treasury into a yield machine, generating on-chain income rather than sitting idle as reserves. The company allocates its tokens between native Ether and liquid staking tokens (LsETH and weETH) to maximize revenue.
SharpLink's staking activity generated $11.2 million in the second quarter of this year, with a net quarterly loss of $394.3 million due to Ether price decline. Despite these losses, management remains committed to increasing the number of ETH per share.