As of a corporate statement released July 29th, SharpLink has successfully generated roughly $3 million through staking its substantial Ethereum holdings, which total 438,190 ETH.
The company revealed that they’ve been actively growing their Ethereum (ETH) reserves over the past week using both staking rewards and the issuance of equity. Staking efforts alone have yielded 722 ETH, equating to approximately $2.7 million in earnings, according to the company.
Furthermore, SharpLink bolstered its holdings last week with an acquisition of 77,210 ETH, an investment valued at approximately $295 million.
These strategic moves have positioned SharpLink as a major holder of Ethereum, now possessing a total of 438,190 ETH. Based on an ETH market price of $3,849, their total reserve value is currently around $1.687 billion.
The company further stated that it is now 44% of the way toward achieving its ambitious long-term target of accumulating one million ETH.
Adding to the positive outlook, SharpLink’s existing Ethereum holdings are generating considerable unrealized gains.
Thanks to their dollar-cost averaging investment approach, the company currently estimates its unrealized profits to be around $400 million.