Sharplink pockets $33M from Ether staking, deploys another $170M.
Public companies and crypto-focused treasury firms are turning to stocks as a source of passive income.
Sharplink Gaming, the world's second-largest corporate ether (ETH) holder, generated 10,657 ether ($33 million) in net revenue over the past seven months, according to the company's dashboard.
Staking allows investors to earn passive income by committing their tokens to secure proof-of-stake blockchain networks.
At current prices, Sharplink's stock movement last week added about $1.4 million in value to shareholders. “Our thesis remains unchanged: 100% ETH and 100% stock,” the company said in a post on X on Wednesday.
Related: BitMine Buys $105M in Ether to Start 2026, Still Has $915M in Cash
SharpLink expands the strategy focused on productivity
Sharplink has deployed $170 million of Ether to its Ethereum Layer-2 scaling solution Linea for additional Ether recycling rewards, the company announced Thursday.
The SharpLink structure combines native Ethereum staking returns with rewards and incentives from Lina and related protocols.
Sharplink announced the multi-year initiative in October, held by Anchorage Digital Bank, Sharplink's qualified custodian, with institutional-level safeguards.
The institutions will standardize the product of crypto staking
BitMine Immersion Technologies, the largest corporate Ether holder, also increased its stock activity, with a stake of 936,512 Ether worth $2.87 billion as of Thursday.
By contrast, Sharplink represents the company's total holdings of 864,840 Ether at an average price of $3,609 per token, according to the company's dashboard.
RELATED: $11B Bitcoin whale sells $330M ETH, opens $748 million long run in top cryptos
More institutions are getting into ether staking, including investment banking giant Morgan Stanley, which has proposed to launch an ether exchange-traded fund seeking to capture more of the stock's output, Cointelegraph reported Wednesday.
The increasing institutional involvement shows that cryptocurrency staking is evolving from a decentralized finance (DeFi) experiment to a strategy employed by corporations to generate revenue.
Magazine: Sharplink exec shocked by level of BTC and ETH ETF hoarding – Joseph Chalom
