TL;DR
- Sharplink purchased approximately 39,319 additional ETH valued at roughly $91 million in a single transaction.
- The operation raises a treasury that already exceeded 888,938 ETH, positioning the company among the largest corporate ETH holders in the world.
- Staking generated $11.2 million in revenue during the second quarter of 2026, despite a net loss of $394.3 million for the period.
Sharplink Gaming purchased another 39,319 ETH equivalent to approximately $91 million, according to what reported the onchain analytics platform Lookonchain upon recording the transaction. The operation follows the pattern the company has maintained for over a year: systematically accumulating ETH and directing the majority of that position toward staking and liquid staking derivatives rather than holding the asset idle.
The firm pivoted from sports betting marketing toward ETH accumulation in mid-2025, under the leadership of chairman Joseph Lubin, co-founder of Ethereum and chief executive of Consensys. Since then, Sharplink has established itself as the second largest corporate holder of Ethereum worldwide, trailing only Bitmine Immersion.
SharpLink Gaming(@Sharplink) staked another 39,319 $ETH ($91M) 4 hours ago.https://t.co/e3GO6yzUE7 pic.twitter.com/0yJQ6bE6sO
— Lookonchain (@lookonchain) August 21, 2026
Sharplink Closing in on 900,000 ETH
The 39,319 ETH just acquired add to a treasury that, according to data published on August 3, totaled 888,938 ETH. That figure already reflected an increase from the 886,725 ETH recorded at the end of June, distributed across 632,719 ETH in direct custody, 181,299 ETH represented through the liquid staking token LsETH, and 72,707 ETH via weETH. The structure allows the company to generate staking yield without fully immobilizing its position.
The pace of accumulation has moderated compared to the initial phase of large-scale purchases, but Sharplink has sustained gradual additions in smaller batches. Staking the entire available balance has become the dominant criterion, given that idle ETH generates no income whatsoever while staked ETH produces a yield that directly impacts financial results.
Staking as the Financial Backbone
Staking contributed $11.2 million out of a total $11.5 million in second-quarter 2026 revenue, though the figure fell short of Wall Street’s estimate of $12.3 million. The quarter recorded a net loss of $394.3 million, driven primarily by an unrealized loss of $321 million on crypto holdings and $76.1 million in impairments tied to liquid staking positions during Ethereum’s price decline.
Joseph Chalom, co-chief executive brought on board at Sharplink from BlackRock‘s digital assets team in July, defined the central criterion of the strategy: “Every financing decision we make is grounded in our long-term objective of increasing ETH per share,” he stated when the June treasury update was announced.
