Sports activities betting platform SharpLink Gaming saved accumulating Ether (ETH) after briefly slipping to the second-largest public ETH holder behind BitMine Immersion Applied sciences.
SharpLink acquired a record-breaking quantity of Ether for the corporate up to now week ending Sunday, reporting a purchase order of 79,949 ETH on Tuesday.
The acquisition was accomplished at a median ETH buy value of $3,238, totaling about $258.9 million.
The brand new purchases adopted one other $49 million buy announced last Monday, bringing SharpLink’s complete Ether holdings to 360,807 ETH, price about $1.3 billion at present market costs, according to CoinGecko.
Ether accumulation race heats up
With its newest Ether acquisition, SharpLink reclaimed its place because the world’s largest publicly traded ETH holder.
After announcing a $250 million private placement raise on June 30, BitMine final Thursday reported that its Ether holdings reached 300,657 ETH, with worth exceeding $1 billion.
After reporting its 300,657 ETH buy, BitMine briefly beat SharpLink in complete ETH holdings, because the latter reported 280,706 in complete Ether holdings final week.
SharpLink’s newest buy was not instantly seen on CoinGecko’s public corporations listing by Ether holdings by publishing time.
Cathie Wooden baggage $175 million stake in BitMine
The intensifying race for the title of “MicroStrategy of Ether” has been making waves within the inventory market. On Monday, Cathie Wooden’s funding agency ARK Invest acquired 4.4 million in Bitmine (BMNR) shares, with the acquisition netting practically $175 million.
As beforehand talked about, BitMine noticed its shares rallying final week amid billionaire enterprise capitalist Peter Thiel scooping up 5.09 million BMNR shares, accounting for a 9% stake within the firm.
Associated: Sharplink Gaming’s expanded $6B share offering could buy 1% of ETH
Based on TradingView knowledge, BitMine shares posted month-to-month positive factors of over 700% as of publishing time, having briefly surged previous $140 on July 3 earlier than retreating to the present value of $39.60.
Then again, the SharpLink (SBET) inventory has seen a extra modest 130% surge up to now month, with the shares closing at roughly $26 on Monday.
SharpLink vs. BitMine; Joseph Lubin vs. Tom Lee
BitMine Immersion Applied sciences, previously often known as Sandy Springs Holdings, was legally formed in 2019, establishing its operations as a Bitcoin mining and internet hosting firm utilizing immersion cooling programs.
On June 30, BitMine appointed Fundstrat founder and main crypto bull Tom Lee as board chairman to guide its Ethereum company treasury.
SharpLink, which was formally founded in 2019, operates as a performance-based advertising firm serving the iGaming and sports activities betting sectors. The corporate pivoted toward building a corporate ETH reserve in June 2025, instantly incomes the title of the world’s largest public holder of Ether.
SharpLink’s Ether transfer got here quickly after it closed a $425 million private placement led by Consensys in Could 2025, tapping Ethereum co-founder Joseph Lubin as board chairman.
Journal: High conviction that ETH will surge 160%, SOL’s sentiment opportunity: Trade Secrets
