SharpLink Expands Stock Offering to $6 Billion Following $515 Million Ethereum Purchase

Highlights:

• SharpLink now holds over $1B in Ethereum, showing strong growth.
• The company plans $6B stock sale to expand its ETH treasury and operations.
• GameSquare and BTC Digital shift focus from Bitcoin to Ethereum investments.

SharpLink Gaming has increased its Ethereum (ETH) holdings to over $1 billion, placing it among the largest publicly traded ETH holders. Data from Lookonchain shows that SharpLink Gaming has acquired 32,892 ETH, worth around $115 million.

This comes just a day after the company added another 20,279 ETH to its holdings. Lookonchain reported that SharpLink has accumulated 144,501 ETH in the last nine days, amounting to $515 million. The total value of the company’s Ethereum holdings has now risen above $1 billion. Interestingly, this appears to be only the start of SharpLink’s accumulation strategy.

SharpLink(@SharpLinkGaming) bought another 32,892 $ETH($115M) in the past 3 hours.

In the past 9 days, they've accumulated 144,501 $ETH($515M).https://t.co/LGh4xzpCWk pic.twitter.com/q29czF8qKz

— Lookonchain (@lookonchain) July 18, 2025

This move comes alongside a strong upward trend in Ethereum’s price. The altcoin recently climbed past $3,600, marking a 5.26% increase over the last week. In comparison, Bitcoin (BTC) only saw a 1.06% gain during the same time, pointing to a noticeable rise in institutional interest and confidence in Ethereum over other digital assets.

In a recent X post, the company revealed its goal to grow its Ethereum treasury to 1 million ETH. The Minneapolis-based online marketing firm now holds more Ethereum than any other company worldwide. It has overtaken the Ethereum Foundation with around 353,000 ETH, valued at over $1.2 billion.

SharpLink Plans $6B Stock Sale to Boost ETH Holdings

Additionally, SharpLink filed a prospectus supplement with the Securities and Exchange Commission (SEC) on Thursday, raising its planned stock offering from $1 billion to $6 billion. The company stated that the additional funds will be used to further expand its Ethereum holdings and support its operational growth strategy. If SharpLink spends $6B on ETH today, it could hold about 1.38% of its supply. “We intend to contribute substantially all of the cash proceeds that we receive to acquire Ether […] We also intend to use the proceeds from this offering for working capital needs, general corporate purposes, operating expenses and core affiliate marketing operations.” the company stated.

BitMine Boosts ETH Holdings Past $1 Billion

Along with SharpLink, BitMine, backed by Tom Lee, also shared an update on its growing ETH holdings. The firm now holds 300,657 ETH, valued at over $1 billion. Tom Lee, who chairs BitMine’s board, mentioned that the firm reached this milestone just a week after completing a $250 million private funding round. He also mentioned that BitMine plans to acquire and stake 5% of Ethereum’s entire circulating supply.

Companies Boost Ethereum Holdings

In addition to the major players, GameSquare Holdings has finalized a $70 million public offering. This move supports its larger goal of building a $100 million Ethereum treasury. BTC Digital, a Bitcoin mining company, has decided to shift its strategy by converting all its Bitcoin holdings into Ethereum, following a similar move by Bit Digital. The firm also disclosed that it recently completed a $6 million funding round and has added another $1 million worth of Ethereum to its portfolio.