Digital asset management firm Sharplink has reported earning approximately $28.1 million in staking rewards, equal to 14,516 ETH. The company stakes nearly its entire Ethereum treasury, controlling about 0.717% of the total supply, but faces roughly $1.39 billion in unrealized losses due to ETH’s price decline.
A major institutional player in Ethereum is employing a high-commitment staking strategy. Sharplink recently reported earning about $28.1 million in staking rewards, equivalent to 14,516 ETH.
The company stakes almost 100% of its Ethereum holdings, a move detailed in a company statement. This strategy slowly increases its ETH share, but data indicates an unrealized treasury loss of roughly $1.39 billion.
Sharplink’s position is contrasted by larger institutional accumulators like Bitmine Immersion Technologies. Bitmine holds about 4.47 million ETH, representing 3.71% of the circulating supply and stakes roughly 68% of it.
This different approach generates an estimated $172 million in annual staking revenue for Bitmine. Meanwhile, broader market data shows caution, with Ethereum trading around $1,981 and ETFs seeing outflows.
Data from Farside Investors noted $10.8 million in Ethereum ETF outflows on March 3rd. The weakness extended to crypto-related stocks, with SBET and BMNR shares also declining.
The strategy contains a practical contradiction from the prior year. On-chain activity shows Sharplink sold 10,975 ETH worth about $33.54 million via an OTC transaction in November 2025.
This suggests adjustments may occur despite the stated staking commitment. The company aims to use staking yield to reduce its high average Ethereum purchase price of $3,588 per token.
