SharpLink Gaming's $SBET token has demonstrated significant revenue generation through its Ethereum staking strategy, earning 446 ETH (worth approximately $1.38 million) in a single week. According to the company, this weekly performance translates to an annualized revenue projection of nearly $70 million based on current ETH prices and holdings.
The company, which became the first publicly traded firm to adopt Ethereum as its primary treasury reserve asset, launched its staking strategy on June 2, 2025. Since then, it has accumulated 8,776 ETH in total staking rewards. SharpLink confirmed that its ETH holdings remain "100% staked in an institutional-grade manner and keeps compounding value for the treasury." The firm's revenue is expected to grow further as ETH prices increase and more assets are staked.
This development coincides with substantial whale activity in the Ethereum market. Market intelligence platform Santiment reported that whales and sharks accumulated approximately 934,240 to 949,240 ETH (worth about $3.15 billion) over a three-week period. In contrast, smaller retail investors sold 1,041 ETH last week, creating a notable divergence in investor behavior.
Analysts note that $SBET's performance stands in contrast to other tokens. Andrea Kollman highlighted that "$SBET grew 5000% in the first 3 days" before experiencing volatility. Similarly, Consensys' LINEA token has struggled post-launch with significant declines. SharpLink's staking model is being positioned as a relatively stable revenue source amid broader market swings.
Ethereum's price action has supported this activity, with ETH gaining 8.5% recently, indicating renewed institutional and large investor confidence in the asset's long-term prospects.
