SharpLink (SBET) Skyrockets 29% as Firm Now Largest Ethereum Holder

We recently published 10 Stocks Exploding Higher: Bitcoin Miners Dominate the List. SharpLink Gaming, Inc. (NASDAQ:SBET) is one of Wednesday's top performers.

SharpLink Gaming extended its winning streak to a 7th consecutive day on Wednesday, jumping 29.03 percent to close at $37.38 apiece following news that it has become the largest holder of Ethereum cryptocurrencies globally.

This followed the acquisition of 74,656 ETH last week, propelling its total ownership of the cryptocurrency to 280,706. The assets were acquired between July 7 and 13 at a weighted average price of $2,852 each.

The transaction also coincided with SharpLink Gaming, Inc.’s (NASDAQ:SBET) successful raising of $413 million through the issuance of more than 24 million shares At-The-Market between July 7 and 11.

As of July 13, SharpLink Gaming, Inc. (NASDAQ:SBET) said approximately $257 million of the total proceeds have yet to be spent on ETH purchases.

Based on its historical earnings reporting dates, SharpLink Gaming, Inc. (NASDAQ:SBET) is slated to announce the results of its second quarter earnings performance in the second week of August 2025.

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Disclosure: None. This article is originally published at Insider Monkey.