SharpLink Chairman Joe Lubin urges full Ethereum: the company is ready to leverage!

SharpLink Gaming, a company that originally focused on sports gambling, is transforming into the world's largest publicly traded Ethereum (ETH) asset reserve company at an astonishing rate. Chairman Joseph Lubin told Bloomberg that the company is evaluating convertible equity and long-term bonds to amplify its holdings. (Synopsis: SharpLink smashed another $30 million to increase its position in ETH, holding 188,000 positions to stabilize the dominance of listed company Ethereum) (Background supplement: BlackRock added another 11,000 Ethereum!) Total holdings exceeded $4 billion, ETH rebounded $2480) SharpLink Gaming transformed into the world's largest Ethereum (ETH) reserve company. Joseph Lubin, who is not only chairman and co-founder of Ethereum, made it clear in an interview with Bloomberg that the company is evaluating convertible equity and long-term bonds to amplify its holdings, and the market immediately thought of Michael Saylor's operation to make MicroStrategy a bitcoin whale. ETH Whale Road SharpLink Gaming's transformation began with a $425 million private placement in May 2025, led by Consensys Software Inc. SharpLink Gaming then purchased 176,270.69 ETH at an average price of $2,626, for a total cost of approximately $463 million. In late June, holdings expanded to 188,478 ETH, with more than 95% staked, generating over 120 ETH in just one month. Joseph Lubin emphasizes: "We consider a small amount of leverage, such as convertible equity and low-interest long-term bonds, but never put the strategy at risk." Learn the Saylor model Michael Saylor's MicroStrategy (now known as Strategy) has accumulated a large amount of bitcoin since 2020 through zero-coupon convertible bonds, preferred shares and ATM shares, and currently holds more than 592,000 BTC. SharpLink's operational structure is similar: private equity and ATM offerings are used to raise capital, followed by convertible equity and long-term bond amplifications. Lubin praised Saylor's pioneering approach: "Saylor showed me how effective it can be to turn a company into a vehicle for crypto assets." SharpLink's next risk Leverage strategies have high volatility and debt risk risks, and SharpLink's stock price plunged 69% after the private placement, which is an investor warning. The company must maintain a balance between expansion and dilution in the future, while ensuring that the pledge proceeds are sufficient to cover the interest costs. SharpLink, targeting the world's central banks' Ethereum goals, is also injecting the narrative of Ethereum's first reservist into the "cryptocurrency treasury" model, which may rewrite the coordinates of corporate asset allocation. Related reports Opinion: EIP-1559 is the real turning point of Ethereum's becoming the "world central bank" Ethereum's "pledge exceeded 35 million" accounted for nearly 30% of the supply, what is the impact on ETH? SharpLink Chairman Joe Lubin urges Ethereum: The company is ready to open leverage! This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".