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SharpLink Earns $33 Million from Ethereum Staking and Invests an Additional $170 Million

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Over seven months, SharpLink Gaming has accrued 10,657 ETH ($33 million) through Ethereum staking

At the current cryptocurrency rate of ~$3100, the coin-locking operations have provided the firm’s shareholders with approximately $1.4 million in additional value over the past week. 

“Our position remains unchanged: 100% of funds in Ethereum and 100% of them staked,” company representatives stated. 

SharpLink holds the second-largest treasury of the leading altcoin, managing over 863,000 ETH valued at $2.6 billion, which constitutes 0.7% of the asset’s total supply. The company plans to accumulate 5% of Ethereum’s issuance. 

Top 5 largest corporate holders of Ethereum. Source: Strategic ETH Reserve

The company has also allocated additional tokens worth $170 million into the L2 solution Linea for participation in restaking. This strategy will combine base yield with additional rewards, as well as incentive payments from the network itself and related protocols. 

The largest corporate holder of Ethereum, BitMine Immersion Technologies, is also increasing its staking activity. Earlier this month, the company locked an additional 186,336 ETH worth $604 million. 

As of January 8, the firm has staked over 936,512 ETH, totaling approximately $2.87 billion.

Previously, BitMine’s chairman, Tom Lee, noted that the fully deposited Ethereum reserve for passive income would yield approximately $374 million annually at the current composite rate of 2.81%. 

At the time of writing, the company has accumulated 4.07 million ETH worth $12.5 billion—3.41% of the total market supply of the leading altcoin. In the entire DAT segment, the firm ranks second in crypto treasury value after Strategy. 

In late December, the queue for Ethereum staking exceeded that for withdrawals for the first time since July, a development some experts attributed to BitMine’s activity. 

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