Joseph Lubin–led firm signals renewed confidence in Ethereum amid crypto market correction
Sharplink Gaming, the Nasdaq-listed digital asset treasury company founded by Ethereum co-founder Joseph Lubin, has resumed its Ethereum (ETH) accumulation after a brief pause — marking its first purchase since late August.
According to company disclosures, Sharplink acquired 19,271 ETH worth over $75 million, funded by a $76.5 million direct stock offering. The transaction, executed at an average price of $3,892 per token, pushes the company’s total holdings to 859,853 ETH, now valued at approximately $3.5 billion alongside $36.4 million in cash reserves.
Sharplink’s stock price remained largely unchanged at $14.70 following the announcement, though it remains down 66% since July highs and nearly 90% below May’s peak, when the firm initially announced its crypto-focused pivot. The company’s valuation now sits significantly below the net asset value of its crypto holdings, a trend shared among firms heavily exposed to digital assets.
Corporate Crypto Treasuries Regain Momentum
This move comes as digital asset treasuries cautiously re-enter accumulation mode following months of volatility. The broader market correction in October weighed heavily on corporate portfolios, yet Sharplink’s renewed purchasing signals confidence in Ethereum’s long-term strength despite near-term weakness.
“Lubin’s strategy mirrors the early playbooks of corporate bitcoin adopters — leverage capital markets to accumulate scarce digital assets when sentiment is soft,” said a digital asset strategist at a London-based investment firm. “It’s a long-term conviction play, not a trade.”
Stock Performance Reflects Broader Market Strain
To offset market headwinds, Sharplink repurchased its own shares last month after prices fell beneath the firm’s book value — a move viewed as a show of confidence in its underlying balance sheet.
The company’s strategic accumulation aligns with renewed optimism around Ethereum’s increasing institutional adoption and Layer-2 scaling momentum. Ethereum’s network activity has risen steadily, with staking rewards and transaction volumes reflecting strong ecosystem health.
Since June, Sharplink has also earned 5,671 ETH (approximately $22 million) from staking its treasury holdings — a sign of active capital management within its crypto reserves.
By re-engaging its accumulation program, Sharplink Gaming reinforces Ethereum’s role as a premier institutional asset — and signals that confidence in digital assets remains resilient even amid market corrections.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.