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CryptoMediumUpdated×3•Originally published 10 March 2026•Updated 10 March 2026•

1 min read

SharpLink (SBET) Reveals 868,000 ETH Treasury Following $3.2 Billion Capital Raise

Key Facts

1SharpLink reported a $734 million loss in 2025.

3 months ago

Version History

Version 33 months ago

What changed: Added specific quantitative data regarding the 868,000 ETH holdings, the $3.2 billion capital raise, and the 45% market decline context.

Version 23 months ago

What changed: Added the stock ticker (SBET) and provided context that these results stem from the company's first year implementing its Ethereum-focused treasury strategy.

Version 13 months ago

What changed: The story was updated to clarify that the losses are non-cash accounting charges rather than realized losses, noting that no assets were sold and staking operations hit record highs.

SharpLink Gaming (SBET) has disclosed the massive scale of its digital asset treasury, revealing holdings of 868,000 ether tokens. To fund this aggressive acquisition strategy, the Nasdaq-listed firm raised $3.2 billion throughout 2025, effectively doubling its ETH per share metric. While the company reported a $734 million loss for the fiscal year, it clarified these are non-cash accounting charges stemming from a 45% decline in Ethereum's price from its peak. Despite the market volatility, the company has not liquidated any assets, maintaining its commitment to the long-term treasury model. The record performance of its ETH staking engine continues to provide operational support amidst the broader market downturn. Investors are now focusing on the company's ability to leverage its significant holdings as the ETH/USD pair stabilizes.