SharpLink, Ethereum’s largest publicly traded holder, has expanded its ETH position, according to a July 1 statement.
Between June 23 and June 27, the company acquired an additional 9,468 ETH for approximately $22.8 million, bringing its total Ethereum holdings to 198,167 ETH, valued at $485 million.
According to DropsTab data, the firm’s unrealized loss is more than $34 million based on the current prices of the digital asset.
However, the firm is thawing the pains of losses with the revenue it generates from staking its assets.
As of June 30, SharpLink has deployed all its ETH reserves into staking protocols. In the week spanning June 21 to June 27 alone, the company earned 102 ETH in staking rewards.
Since launching its staking strategy, SharpLink has generated 222 ETH, which is valued at approximately $540,000.
Joseph Lubin, SharpLink Chairman and co-founder of Ethereum, emphasized the broader significance of this move, saying:
“We are entering a new era where digital assets like Ethereum are no longer speculative instruments – they are fast becoming the strategic currency of the modern digital economy.”
New ‘ETH Concentration’ metric
To improve transparency and track the company’s Ethereum-related performance, SharpLink has introduced a new reporting metric, “ETH Concentration.”
Notably, this metric borrows from the “BTC Yield” key performance indicator (KPI) adopted by Bitcoin-centric companies like Metaplanet and Strategy (formerly MicroStrategy).
The ETH Concentration metric is calculated by dividing the total ETH held by 1,000 assumed diluted shares outstanding. The calculation includes actual shares, shares from warrants, stock options, and restricted stock units, but excludes share buybacks and vesting restrictions.
Since June 13, when SharpLink first disclosed its Ethereum accumulation strategy, the ETH Concentration metric has risen from 2.00 to 2.35 ETH per 1,000 diluted shares as of June 27—a 17.7% increase.
Meanwhile, SharpLink has appointed Elevate IR as its record investor relations agency in a related development. The firm will support SharpLink in shaping its financial communications and investor engagement efforts.
Rob Phythian, CEO of SharpLink Gaming, highlighted the partnership as a crucial step in maintaining transparency, saying:
“Ethereum is more than a treasury asset – it’s the financial foundation for what we believe will become the next generation of capital management and online gaming infrastructure.”
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