Sharplink Rakes in $33M From Ether Staking as “100% ETH” Bet Pays Off

SharpLink Gaming’s decision to commit fully to Ethereum and place its entire crypto treasury into staking is beginning to show measurable results, as the company reports more than $33 million in passive income generated from Ether staking over the past seven months.

The disclosure places SharpLink among a growing group of public companies treating staking not as a speculative experiment, but as a core treasury strategy.

SharpLink Builds Yield While Holding 864,000 ETH

The data published on the company’s dashboard shows that SharpLink has earned a total of 10,657 ETH in staking rewards, accumulated steadily since mid-2025.

At current prices, that figure translates to roughly $33 million. The company said it generated 438 ETH in staking rewards over the past week alone, adding about $1.4 million in value for shareholders during that period.

In a post shared on X, SharpLink reiterated its approach, stating that its strategy remains “100% ETH and 100% staked.”

SharpLink is now the world’s second-largest corporate holder of Ether, with total holdings of 864,840 ETH.

The company has steadily increased its exposure over the past year, with its ETH balance chart showing consistent accumulation from June through early January.

The average acquisition price across its holdings stands at $3,609 per ETH, meaning the company is currently sitting on an unrealized loss of $395.6 million based on Ethereum’s current market price of about $3,097.

Despite that, the staking rewards continue to accumulate and partially offset price volatility.

The company’s ETH reserve is valued at roughly $2.66 billion at current market prices and represents about 0.71% of Ethereum’s circulating supply.

Of that reserve, around 8,780 ETH has been generated through yield rather than direct purchases, reflecting income from staking and related on-chain strategies.

SharpLink’s estimated net asset value tied to its ETH holdings is approximately $2.65 billion, while its basic market net asset value ratio sits at 0.76x, indicating that the company’s shares are trading at a discount to the value of its underlying assets.

SharpLink’s stock, trading under the ticker SBET, was priced at $10.31 as of the latest update, up 0.34% on the day.

Average daily trading volume over the past month stands near $82.2 million, pointing to sustained liquidity and investor interest.

The company’s market capitalization is estimated at $2.21 billion, with an enterprise value of about $2.18 billion based on a blended assessment of its equity and ETH holdings.

The firm says it is now operating in what it calls the “ETH Standard Era,” reporting a performance increase of 67.64% since adopting Ethereum as its core balance sheet asset.

Corporate ETH Staking Gains Pace as SharpLink Moves $170M Into Linea

Beyond native staking, SharpLink has expanded into restaking strategies.

This week, the company disclosed that it deployed an additional $170 million worth of ETH into Linea, an Ethereum layer-2 network, to earn incremental restaking rewards.

The multi-year initiative, first announced in October, is custodied through Anchorage Digital Bank and combines base Ethereum staking returns with incentives from Linea and related protocols.

SharpLink’s move mirrors a broader trend among corporate crypto treasuries.

BitMine Immersion Technologies, currently the largest corporate Ether holder, has staked more than 936,500 ETH worth about $2.87 billion.

In late December, BitMine staked over 342,000 ETH in less than 48 hours, briefly tightening Ethereum’s validator queues.

On January 8, the company added nearly 100,000 ETH more, lifting its total holdings above 900,000 ETH.

Institutional interest is extending beyond corporate treasuries, with Morgan Stanley recently filing to launch a spot Ether exchange-traded fund designed to capture staking yield.

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