Ethereum Fever: SharpLink's Wild Buying Spree and a Corporate Race to the Top

SharpLink's Mega ETH Haul

Ethereum is on fire as a treasury reserve asset, and SharpLink, the Minneapolis-based affiliate marketing and iGaming software wizards, are going all in on their buying spree. These guys aren't slowing down, not even for a second!

On July 14, SharpLink pulled off another blockbuster ETH purchase, snagging a whopping 24,371 ETH at an average price of $2,695. EmberCN crunched the numbers, and that deal rang in at a cool $73.2 million.

But wait, there's more! Earlier that same day, SharpLink went on a shopping spree, gobbling up over 38,700 ETH for around $113 million. That's right, in just one day, they racked up over 63,000 ETH. Talk about a power move!

With this aggressive buying strategy, SharpLink's total stash has soared to 294,000 ETH, blowing past the Ethereum Foundation to become the biggest known corporate holder of Ethereum. Boom!

“Ethereum isn’t part of our strategy, it is our strategy,” SharpLink declares, doubling down on their long-term bet on Ethereum's future as a financial powerhouse.

A Corporate Stampede to ETH

SharpLink isn't the only player in town making waves in the ETH world. Bit Digital and BitMine Immersion are also diving headfirst into Ethereum, throwing hundreds of millions at the asset in recent months.

Just this month, Bit Digital, a Nasdaq-listed mining powerhouse, shocked everyone by converting all its Bitcoin into Ethereum. They're the first public firm to pull off such a bold switch. Not to be outdone, BitMine Immersion threw down $500 million, embracing a treasury model laser-focused on ETH.

What started as solo missions is now a full-blown trend. These three titans have been shouting out each other's moves on X, praising their shared commitment to Ethereum and their united mission.

“The three of us race against each other, but ultimately we are all aligned to a greater cause: to unleash the power of Ethereum,” Bit Digital CEO Sam Tabar passionately declared.

As it stands, BitMine and Bit Digital are holding strong with 163,000 ETH and 100,000 ETH, respectively, hot on SharpLink's heels as the second and third largest corporate ETH holders.