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Sharplink Gaming raises another $400 million to increase the position in ETH! The goal is to hold more than 3 billion coins to join the "1% Supply Club," and the competition for ETH treasury among listed companies is heating up.
Online gaming marketer Sharplink Gaming ( NASDAQ: SBET ) announced a direct issuance of shares to five global investors through sign up, raising $400 million (at $21.76 per share), aiming to increase its total value of Ether ( ETH ) holdings to over $3 billion, targeting to hold about 1% of the ETH Circulating Supply. The news spurred its stock price to surge to $28.26 during trading. Currently, Sharplink holds 598,800 ETH (worth $2.5 billion), and if it adds an additional $200 million through the listing process, it will hit the 1% supply target. The publicly listed company's ETH treasury holdings have surged, with BitMine ( holding 1.2 million ), Bit Digital ( holding 1.12 million ), and EtherMachine ( holding 345,000 ) forming the first tier. Standard Chartered analysts predict that the publicly listed company will eventually control 10% of the ETH Circulating Supply.
[400 million fundraising aims at expanding the ETH treasury] The online gaming marketing company Sharplink Gaming (NASDAQ: SBET) announced the completion of a Registered Direct Offering:
【Holdings Status and Expansion Path】
【Market Reaction: Stock Price Fluctuations】 Affected by this news, Sharplink stock (SBET) on that day:
【Public Company ETH Treasury Competition Heats Up】 Sharplink's move is a microcosm of publicly traded companies actively building their ETH reserve strategies. With more and more public companies establishing ETH treasuries, a competition for Holdings has already begun:
[Institutional Outlook: Listed Companies May Control 10% of ETH Supply]
【Strategic Motivations and Potential Risks】
[Conclusion: The Institutionalization Process of ETH Accelerates, the 10% Supply Control Rights Battle Begins] Sharplink Gaming has invested $400 million to increase its ETH holdings, pushing the public company's ETH treasury competition to a new high. It has clearly stated the goal of "holding 1% of the Circulating Supply", highlighting institutional confidence in Ethereum as a corporate reserve asset. Pioneers like BitMine, Bit Digital, and EtherMachine have established multi-billion dollar holding barriers. Standard Chartered's prediction that "public companies will ultimately control 10% of ETH supply" could fundamentally change the holding structure of ETH. Despite the challenges posed by the complexity of DeFi applications, the need for regulatory frameworks, and liquidity risks in staking, public companies are hoarding ETH at an astonishing pace, viewing it as a core asset for balancing their balance sheets and participating in the next generation of financial ecosystems. This institution-led competition for ETH supply will become a key variable affecting the long-term value of Ethereum.