Minnesota-based Company Boosts ETH Holdings to 188K, Eyes Top Corporate Spot

Ethereum

Minnesota-based Company Boosts ETH Holdings to 188K, Eyes Top Corporate Spot

Minnesota-based affiliate marketing company SharpLink Gaming (SBET) has ramped up its cryptocurrency treasury strategy, acquiring an additional 12,207 ETH between June 16–20, according to a press release issued Tuesday.

The $30.7 million purchase was made at an average price of $2,513 per ETH.

This latest move builds on SharpLinks initial $463 million Ethereum buy on June 13, when it acquired over 176,000 ETH in a single transaction. Combined, the firm now holds 188,478 ETH, positioning it as the second-largest known corporate holder of Ethereum behind the Ethereum Foundation, which holds approximately 213,072 ETH, based on Arkham Intelligence data.

Share Sale Fuels Treasury Expansion and Staking Rewards

To finance the latest acquisition, SharpLink sold 2.54 million shares through its at-the-market facility, generating $27.7 million in net proceeds. The company confirmed that the capital raised was directed into Ethereum purchases during its second accumulation phase.

In addition to acquiring ETH, SharpLink has allocated its entire holdings to staking solutions, which have already earned the firm 120 ETH—valued at over $293,000 since June 2.