SharpLink, a company with a growing focus on Ethereum, has continued with its aggressive ETH accumulation, according to an Aug. 26 statement.
The firm said it acquired 56,533 ETH at an average cost of $4,462, using $360.9 million raised through its at-the-market issuance program during the week ending Aug. 24.
These purchases lifted SharpLink’s total holdings to 797,704 ETH, which has a market value of nearly $3.7 billion. SharpLink is the second-largest corporate holder of Ethereum, behind only Thomas Lee’s BitMine.
Since launching its treasury initiative in June, SharpLink has earned 1,799 ETH in staking rewards and has roughly $200 million in cash for future acquisitions.
SharpLink’s co-CEO Joseph Chalom described the purchases as evidence of SharpLink’s discipline in executing its Ethereum-focused vision, emphasizing that the company remains committed to building shareholder value while supporting the growth of the wider network.
Following the news, SharpLink shares rose 3.31% to approximately $20 as of press time, according to Google Finance data.
Inducement plan
SharpLink has filed with the US Securities and Exchange Commission (SEC) to register 3 million additional shares tied to its inducement award plan.
The program, first authorized by the board on Aug. 19, allows the company to issue stock to new or rehired employees as part of their compensation package.
According to the filing, the inducement plan applies only to individuals beginning new roles or returning to the firm after a confirmed break in service.
The eligible awards may include restricted shares, stock units, or options, but each must be granted when hiring and serve as a meaningful factor in the decision to join SharpLink.
By linking employment offers to stock incentives, SharpLink aims to compete more effectively for skilled workers while reducing cash-based expenses. The move also reinforces its strategy of aligning employee rewards with long-term shareholder value.
Meanwhile, the plan’s administration will rest with the compensation committee or other independent board members.
