TLDRSharplink Gaming has gained $970 million in unrealized profits from its Ether holdings.The company currently holds 838,730 ETH valued at approximately $3.93 billion.Sharplink started accumulating Ether in June 2025 and stopped adding in September.The firm holds about 0.69 percent of the total circulating supply of Ether.Sharplink remains debt-free and aims to continue generating value for its shareholders.Sharplink Gaming has posted $970 million in unrealized gains following Ether’s sharp price increase over the past 24 hours. The company currently holds 838,730 ETH, worth approximately $3.93 billion at prevailing market prices. This holding represents nearly 0.69% of all Ether in circulation, significantly enhancing its market position.ETH Price Rally Pushes Sharplink’s Crypto Strategy ForwardSharplink began acquiring Ether in June 2025, starting with an initial position of 176,300 ETH. It continued adding to its holdings throughout July and August, reaching 839,000 ETH by early September. Although the amount has remained unchanged since then, Ether’s rise from $4,500 to $4,700 has increased the stash’s value.SharpLink’s unrealized profit now surpasses $900M since launching the ETH treasury strategy on June 2, 2025.During that time, ETH concentration doubled, making every share more valuable.With 839k ETH on our balance sheet and no debt, SharpLink’s in a strong position to keep… pic.twitter.com/4HlQWRZjvw— SharpLink (SBET) (@SharpLinkGaming) October 6, 2025The firm credited Ether’s yield-bearing capabilities for the strong performance of its crypto treasury strategy. “Sharplink’s unrealized profit now surpasses $900M since launching the ETH treasury strategy on June 2, 2025,” the company announced. With no outstanding debt, Sharplink maintains a solid position to support shareholder value and strategic growth.Sharplink emphasized that the investment strengthens its long-term treasury position while supporting its blockchain-related initiatives. It has reiterated its commitment to Ethereum’s ecosystem while exploring new digital finance models. This strategy also supports its broader innovation roadmap, particularly around tokenized assets and decentralized tools.Corporate Ether Reserves Exceed $26 Billion MarkSharplink now ranks second among Ether-heavy corporate treasuries, behind BitMine Immersion Tech, which holds 2.83 million ETH. The Ether Machine follows in third with nearly 500,000 ETH. Combined, these firms have over 5.6 million ETH valued above $26.5 billion.Sharplink’s balance sheet reflects confidence in Ethereum’s long-term utility across trading, tokenization, and digital settlement use cases. Co-CEO Joseph Chalom stated, “We’re explaining to users what the potential is, and you’re starting to see that adoption.” He added that ETH can lower capital requirements and risks in trading operations.The company’s market valuation also reflects investor optimism about its blockchain-forward outlook. Currently trading at 7.8 times book value, Sharplink commands a significant premium over the U.S. hospitality average of 3.1 times. Compared to peers trading at 2.1x, Sharplink’s valuation suggests confidence in accelerated digital growth.Sharplink Advances Tokenization and SEC-Registered Stock IntegrationSharplink has announced plans to tokenize its SEC-registered common stock using the Ethereum blockchain. Superstate will serve as its digital transfer agent, helping facilitate this shift toward decentralized equity representation. The firm sees tokenization as a natural extension of its blockchain treasury approach.This move aligns with Sharplink’s broader focus on integrating blockchain into its operational framework. The firm aims to unlock efficiency by utilizing Ethereum for secure transactions, lower costs, and enhanced transparency. Sharplink believes this model supports long-term shareholder returns and market innovation.Over the past year, Sharplink’s total shareholder return was 0.85%, indicating stable performance. Shares have shown modest upward momentum as blockchain strategies gain traction.The post Sharplink Sees $970M in Unrealized Gains from Massive ETH Bet appeared first on Blockonomi.