SharpLink Gaming will stake part of its $3.6B Ethereum on Linea after Sept 10 to diversify holdings, boost returns, and support ETH growth.
SharpLink Gaming has announced that it will stake some of its $3.6 billion in Ethereum on the Layer-2 network Linea after the mainnet launches on September 10.
Joseph Chalom, co-CEO, said the move aims to diversify staking strategies and support Ethereum projects while boosting returns. The company currently stakes most of its ETH through Anchorage and Coinbase.
Chalom explained, “When you hold billions of dollars of ETH and you’re looking at a portfolio of staking, there is going to be an ability to deploy that through staking opportunities on Linea.” SharpLink will explore both native staking and liquid staking tokens. The exact amount of ETH to stake on Linea has not been decided yet, but the firm wants a diversified approach.
Notably, from August 25 to 31, SharpLink bought 39,008 ETH at an average price of $4,531. This raised its total holdings to 837,230 ETH, valued at over $3.6 billion. Part of the purchase was funded through $46.6 million raised with its ATM facility. Chalom said the company continues to “execute our treasury strategy with precision,” focusing on growth and shareholder value.
SharpLink joined the Linea Consortium in July, which manages 75% of LINEA token distribution. Over 80% of tokens will support on-chain projects. Linea is built by Consensys, led by Ethereum co-founder Joe Lubin, who also serves as chairman of SharpLink’s board.
The network is designed to support Ethereum with native yield and ETH burns. Chalom said supporting Ethereum-aligned projects like Linea can increase real-world activity and help ETH price growth, benefiting large holders.
The firm’s strategy is to preserve capital, earn yield, and grow its holdings over time. Meanwhile, Ethereum currently trades at $4,334.04 with a 24-hour trading volume of $44.96 billion, according to CoinMarketCap.
ETH price action | Source: CoinMarketCap
With this, sharpLink’s plan shows that more large investors are exploring Layer-2 networks, which could increase activity and staking opportunities on Ethereum.
Also Read: SEC and CFTC Join Forces to Clarify Crypto Regulations
