SharpLink Gaming has acquired $667 million in Ether (ETH) at nearly all-time high prices, increasing its total ETH holdings to 740,760, valued at approximately $3.2 billion. This purchase occurred as ETH prices surpassed $4,700. The company reported that all ETH holdings are actively deployed in staking, generating 1,388 ETH in rewards as of August 17, 2025. This acquisition follows the company's recent announcement of a $103 million net loss for Q2 2025, attributed partly to paper losses related to Ether accounting. The stock price of SharpLink dropped 12% following the news of the ETH purchase. This move aligns with a larger trend of institutional investment in Ether, evidenced by competitors like BitMine, which increased its own Ethereum treasury to about $6.6 billion, solidifying its position as the second-largest crypto treasury globally.

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