Analysts at Lookonchain have recorded a transaction in which Sharplink Gaming has staked another 39,219 ETH, the value of which at current prices is nearly $91 million. This step aligns with the historical model that the Nasdaq‑listed company has been following for over 1 year: it continues to accumulate Ethereum and then allocates most of it to staking and liquid staking derivatives.
Sharplink (ticker SBET) has built its entire corporate identity around this strategy. In mid‑2025, the company, under the leadership of Chairman Joseph Lubin, co‑founder of Ethereum and CEO of Consensys, shifted its focus from marketing sports betting to accumulating ether. This allowed Sharplink to take second place among the largest corporate holders of ether, уступая лишь Bitmine Immersion.
The recently pledged 39,319 ETH replenished the treasury, which as of August 3 amounted to 888,938 ETH, which is higher than the figure of 886,725 ethers at the end of June. The reserves were distributed as follows: 632,719 native ETH held directly; 181,299 ETH in the form of the liquid staking token LsETH; and 72,707 ETH via weETH. This allows Sharplink to generate income from staking while keeping part of the assets in liquid form. The pace of accumulation has slowed compared to the early wave of active purchases, but the company continues to replenish its reserves in stable batches. Staking almost the entire balance has become a consistent strategy, since unused ether generates no income, while that used in staking generates revenue that is directly reflected in the profit and loss statement.
Sharplink’s staking activities generated $11.2 million in revenue, which accounted for the bulk of the total revenue for Q2 2026, amounting to $11.5 million (Wall Street’s forecast was $12.3 million). Nevertheless, the quarter ended with a net loss of $394.3 million, primarily due to an unrealized loss of $321 million on crypto assets and an impairment of $76.1 million on liquid staking positions amid a decline in the price of Ethereum. Co‑CEO Joseph Chalom, who joined Sharplink in July from Blackrock’s digital assets team, stated that the company’s strategy is focused on 1 metric: “Every decision we make regarding financing is based on our long‑term goal – to increase the number of ETH per share.”
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The material has been prepared solely for informational and educational purposes and is not financial advice or a recommendation.