SharpLink to Deploy $200 Million in Ethereum on Consensys’ Linea
SharpLink Gaming Inc. (NASDAQ: SBET), a major Ethereum (ETH) holder, plans to deploy $200 million worth of ETH on Linea. Linea is a Layer-2 blockchain network developed by Consensys.
The deployment will happen over several years. SharpLink aims to make its ETH holdings more productive using decentralized finance (DeFi) activities. The company will maintain secure and well-managed operations throughout.
SharpLink’s Strategy for Enhanced Ethereum Yields
SharpLink will use Linea’s zkEVM Layer-2 infrastructure to access competitive ETH-based returns. Anchorage Digital Bank, its qualified custodian, will ensure institutional safety standards.
The investment will generate income from:
- Ethereum’s native staking yield
- Restaking rewards via EigenCloud
- Partner incentives from ether.fi and Linea
Co-CEO Joseph Chalom said, “This deployment enables us to access the best of Ethereum’s staking, restaking, and DeFi yield, while maintaining the institutional safeguards our stockholders expect.”
Partnership Supports Institutional Blockchain Finance Growth
The collaboration involves Consensys, Eigen Labs, ether.fi, and Anchorage Digital. Joseph Lubin, Consensys founder and Ethereum co-founder, stated, “Ethereum is becoming the programmable foundation for a new generation of financial markets.”
Lubin added that SharpLink’s ETH will earn enhanced returns through Linea’s partners. He expects this move to encourage other institutions to follow suit.
Mike Silagadze, CEO of ether.fi, highlighted the need for trusted platforms for large ETH holders. He said his company is proud to support SharpLink’s treasury staking services.
For more details, see the official SharpLink press release.
