The Company Led by Ethereum Co-Founder Joe Lubin Announces It Will Acquire Ethereum! Here Are the Details

Joe Lubin, one of the founders of Ethereum, announced that SharpLink Gaming, which he leads, aims to accumulate Ethereum (ETH) as quickly as possible.

SharpLink’s Joe Lubin: “We Will Be the Fastest to Collect Ethereum”

With this aggressive strategy, the company aims to get ahead of its competitors in the race for institutional Ethereum treasury.

Lubin said in an interview:

“In terms of fully diluted Ethereum per share accumulation, we will be the fastest progressing among Ethereum-focused projects, and even Bitcoin-focused ones if we include them.”

SharpLink Gaming is growing its Ethereum reserves by raising capital daily through at-the-market financing methods. The company also invests its existing ETH holdings through staking, aiming to multiply its position by reinvesting these returns.

Joe Lubin is also known as the CEO of Ethereum infrastructure company ConsenSys and one of the eight founding members of Ethereum.

SharpLink currently sits in second place with 360,800 ETH (approximately $1.35 billion). Tom Lee’s BitMine Immersion Technologies holds the top spot, which holds 566,800 ETH (approximately $2.13 billion).

Other names in the top five for ETH holdings include the Ethereum Foundation, The Ether Machine, and PulseChain. Larger players like Coinbase, Bit Digital, and the Golem Foundation also hold over 100,000 ETH.

The race to accumulate ETH is believed to be putting upward pressure on Ethereum’s price. Behind assets like Bitcoin and Solana, ETH has surged 110% to $3,800 in the last three months. Most of its competitors have had to settle for double-digit gains during the same period.

Crypto security analyst Wilson Ye stated the following in a post on social media platform X:

“What we’re seeing is institutional-scale FOMO (fear of missing out). Large players are racing to gain dominant positions ahead of ETF approvals. This competition validates the thesis that ETH is becoming institutional infrastructure.”

SharpLink states that it will adopt a cautious approach to leverage. The company currently has no debt, but is reportedly evaluating new financing options such as issuing convertible bonds. This was a strategy MicroStrategy frequently used in its Bitcoin holdings.

Joe Lubin added the following on the subject:

“Whatever we do, we will carefully manage risk levels. We will always keep leverage under control.”

Lubin stated that this cautious approach will provide significant benefits to shareholders in the long run.

SharpLink’s aggressive but controlled Ethereum strategy consolidates ETH’s position in the corporate world, while also signaling the start of a new accumulation race in the market.

*This is not investment advice.