SharpLink Gaming stock surges 7% after $30M Ethereum investment spree

Investors cheered as SharpLink Gaming stock jumped 7% in Tuesday’s trading session after the company revealed a $30 million Ethereum purchase, further cementing its position as a crypto-forward gaming powerhouse. The surge pushed SharpLink Gaming stock to $9.66 by market close, with after-hours trading adding another 1.14% to reach $9.77.

The latest acquisition brings SharpLink’s total Ether holdings to 188,000 ETH—worth a staggering $457.4 million—making it the largest ETH holder among publicly traded companies.

Why SharpLink Gaming stock is betting big on Ethereum

The company’s aggressive crypto strategy has turned heads. In a Tuesday announcement, SharpLink confirmed it bought 12,207 ETH at an average price of $2,513 per token, funded partly by a $27.7 million share sale. Notably, the firm has staked its entire ETH stash, already generating 120 ETH ($293,000) in rewards.

“This isn’t just a short-term play,” said Joseph Lubin, SharpLink’s board chairman and Ethereum co-founder. “We’re building long-term value for SharpLink Gaming stock holders by aligning with the future of decentralized finance.”

The move follows a $425 million raise in May specifically for Ethereum investments—a vote of confidence that initially sent SharpLink Gaming stock soaring to $79.29 before a steep correction.

A volatile year for SharpLink Gaming stock

Despite Tuesday’s rally, SharpLink Gaming stock remains down 87% from its May peak. The company’s Q1 2025 earnings revealed a 24% drop in net revenue and a 110% collapse in profit margins, raising questions about its pivot from sports betting to crypto.

Yet analysts suggest the Ethereum accumulation could be a game-changer. “Institutions are piling into ETH, and SharpLink’s early mover advantage might pay off,” said Marquez Capital’s lead strategist. “If Ethereum’s price rebounds, SharpLink Gaming stock could see sustained upside.”

Ethereum’s institutional boom fuels SharpLink’s gamble

SharpLink isn’t alone in its crypto conviction. Institutional demand for ETH has surged, with whales placing leveraged long bets despite geopolitical tensions. One trader opened a $101 million ETH position with 25x leverage this week, while another accumulated $39 million in tokens.

Over 35 million ETH (28% of supply) is now staked—a trend SharpLink is capitalizing on. The company earns passive income by locking its holdings while banking on Ethereum’s long-term adoption.

What’s next for SharpLink Gaming stock?

With SharpLink Gaming stock still trading far below its highs, the company’s crypto gamble remains high-risk, high-reward. Upcoming earnings and Ethereum’s price action will be critical. For now, Tuesday’s rally suggests investors are willing to bet alongside Lubin’s vision.

Watchlist alert: If ETH climbs above $3,000, expect SharpLink Gaming stock to ride the wave.