Publicly traded gaming firm SharpLink Gaming is positioning itself as a pioneer in the productive use of Ethereum by digital asset treasuries in 2026. The company, which has amassed a massive treasury of over 865,000 ETH (worth approximately $2.75 billion as of January 13, 2026), has kick-started this mission by staking $170 million worth of ETH on the Layer-2 network Linea to earn elevated incentives and staking rewards.
The move follows a $400 million registered direct offering in 2025, which bolstered the firm's financial position and its Ethereum reserve strategy. SharpLink's co-CEO, Joseph Chalom, stated on Rug Radio's FOMO Hour that "2025 was a year that DATs [Digital Asset Treasuries] did their initial accumulation, 2026 needs to be the year of productivity." He emphasized the firm's unique position due to its "permanent capital," a long-term commitment that provides access to opportunities short-term investors cannot reach.
While the $170 million is specifically deployed on Linea, Chalom revealed that nearly all of the firm's ETH assets are staked and earning yield across various protocols. The strategy is diversified, with portions allocated to native staking, restaking, and liquid restaking tokens (LRTs), while keeping a part of the portfolio opportunistic for potential lending or liquidity provision to other protocols.
Financially, the firm's stock (SBET) reacted positively, rising nearly 3% to $10.53 on the news. Chalom, who joined SharpLink after leading BlackRock's digital asset strategy, framed the approach as cycle-agnostic: "We're built so that when ETH goes up, our stock price benefits. When ETH goes down, we have no reason to sell... it's a buying opportunity."
The company's ambitious treasury strategy, backed by significant institutional investment, underscores a growing trend of corporations treating Ethereum not just as a speculative asset, but as a core, yield-generating reserve asset. This activity is being closely watched for its potential to influence both the online gaming sector and broader institutional crypto adoption.
