SharpLink (NASDAQ: SBET) has significantly increased its Ethereum holdings, purchasing 56,533 ETH at an average price of $4,462. As of August 26, 2025, the company's total ETH holdings amount to 797,704 ETH, valued at approximately $3.7 billion. This move is part of SharpLink's ongoing treasury strategy, which has also seen total staking rewards rise to 1,799 ETH since June 2, 2025. In the week ending August 24, 2025, SharpLink raised $360.9 million in net proceeds through ATM facilities. The company still has approximately $200 million in cash available for further ETH acquisitions. Additionally, the ETH concentration ratio based on cash conversions has exceeded 4.00, marking a more than 100% increase since the strategy's inception.