SharpLink Gaming Inc. disclosed that it bought 143,593 Ether last week at an average price of $4,648, spending about $667 million. The purchase lifts the Minneapolis-based company’s treasury to 740,760 ETH, valued at roughly $3.2 billion, reinforcing its position among the largest corporate holders of the cryptocurrency. To fund the acquisition, SharpLink raised $537 million in net proceeds during the week of Aug. 10–15, splitting the intake between a $390 million registered direct offering and $146.5 million from its at-the-market share-sale program. The company said it still holds more than $84 million in cash for potential future purchases and has accumulated 1,388 ETH in staking rewards since launching its Ethereum-focused treasury strategy on June 2. The latest buy moves SharpLink closer to its stated goal of owning 1% of Ether’s circulating supply and highlights growing institutional demand for the asset. Nevertheless, the stock fell about 12% after the announcement, as investors weighed the enlarged crypto exposure against a recently reported $103 million quarterly net loss and a broader pullback in digital-asset prices.