SharpLink Logs 499 ETH in Weekly Staking Rewards, ETH Treasury Near 888,000

SharpLink, a Nasdaq-listed Ethereum treasury company trading as SBET, generated 499 ETH in staking rewards over the past week. Total staking rewards have reached 23,490 ETH since the company launched its treasury strategy, taking overall Ethereum holdings to 887,673 ETH. At that level, SharpLink holds the second-largest ETH treasury among publicly traded companies worldwide. Bitmine Immersion Technologies (BMNR) remains the leader, with more than 5.7 million ETH. A "MicroStrategy-style" approach for Ethereum SharpLink positions SBET as structured equity exposure to Ethereum. Investors can buy the stock on Nasdaq, with the share price closely linked to the company's ETH holdings on a per-share basis, offering crypto exposure through traditional brokerage accounts without using wallets or exchanges. The company stakes its ETH to earn yield for securing the Ethereum network. The latest 499 ETH reflects staking income, and the cumulative 23,490 ETH earned via staking represents balance-sheet growth without direct cash outlay. SharpLink also publishes a public ETH dashboard detailing total holdings, staking rewards, and ETH-per-share metrics. The dashboard shows an average acquisition cost of $3,586 per ETH across the full portfolio. June 2026 buying resumes After an apparent pause in direct purchases, SharpLink restarted active ETH buying in June 2026. On June 25, it bought 5,000 ETH. It later acquired another 10,000 ETH at an average price of $1,611 per coin, well below the portfolio-wide average of $3,586, improving the company's cost basis. These moves lifted ETH holdings from roughly 872,984 ETH in May 2026 to 887,673 ETH currently. The net gain is about 14,700 ETH over roughly two months, reflecting both purchases and staking rewards. To finance acquisitions, SharpLink uses at-the-market (ATM) equity offerings, issuing shares gradually at prevailing market prices rather than through a single large deal. The company also conducts share repurchases, creating a two-way capital flow management can use to manage dilution and signal confidence. Public ETH treasuries are scaling rapidly SharpLink's rise highlights how quickly the public-company ETH treasury category has expanded. The company's ETH balance stood at about 521,939 ETH in August 2025, rose to roughly 872,984 ETH by May 2026, and now totals 887,673 ETH. That implies more than 365,000 ETH added in under a year. The 499 ETH earned in the past week equates to an estimated 0.056% weekly return, or about 2.9% annualized if sustained. As rewards are added to the total, a larger base can generate more rewards in subsequent weeks. What investors should watch For investors using SBET as a proxy for Ethereum exposure, the core variable is ETH per share, not just total ETH held. ATM offerings can expand the share count, while purchases and staking rewards increase total ETH. The balance between dilution and ETH accumulation determines whether shareholders gain or lose ETH exposure over time. SharpLink's dashboard is intended to provide real-time visibility into these per-share dynamics. The June purchases at $1,611 suggest management viewed prevailing prices as attractive; buying near 55% below the portfolio's $3,586 average also indicates the broader position was substantially below cost at the time of purchase.