SharpLink Deploys 170 Million Worth Of ETH To Consensys Linea Network

TLDR

• SharpLink deployed $170M ETH to Linea as part of its multi-year staking strategy.
• The firm will earn rewards from Ethereum staking, EigenCloud, and Linea.
• SharpLink’s ETH treasury totals 864,840 ETH, worth around $2.7 billion.
• The ETH is staked under qualified custody via Anchorage Digital.

Public Ethereum treasury firm SharpLink Gaming has begun a $170 million ETH deployment on Linea. The company confirmed the transaction on Thursday, stating that the move is part of its plan to make Ethereum holdings more productive. This marks the first phase of its previously announced $200 million ETH allocation to the network.

SharpLink, which is based in Minneapolis, is the second-largest publicly traded ETH treasury firm. The company holds 864,840 ETH, with all assets managed through custodians. The ETH moved to Linea will generate returns from multiple yield sources, including staking and protocol incentives.

Multi-Layered Yield Strategy Underway

SharpLink is combining native Ethereum staking rewards with restaking through EigenCloud. Additional incentives will be provided by Linea and EtherFi. All activity remains within a qualified custody framework via Anchorage Digital.

“This deal allowed SharpLink to generate additional yield, in excess of its current staking rewards,” said Chief Investment Officer Matt Sheffield. He added that the process includes liquid staking and bridging while maintaining custody, calling it a first for a public company.

The approach aims to maximize ETH yield without shifting toward full DeFi custody models. The firm is targeting institutional compliance while accessing on-chain rewards through a secure structure.

Linea Offers Lower Fees and Faster Transactions

Linea, developed by Consensys, is a zkEVM-based Ethereum layer-2 network. It uses zero-knowledge proofs to batch transactions and verify them on the Ethereum mainnet. This method reduces fees and improves execution speed.

SharpLink is a member of the Linea Consortium, which manages the distribution of the network’s token. The group includes multiple Ethereum-aligned firms. SharpLink Chairman Joseph Lubin also leads Consensys, the software company behind Linea.

Linea launched its native token in September 2025. Since then, the network’s total value locked (TVL) has fallen from $1.64 billion to $185.74 million, according to DefiLlama.

Institutional Interest in On-Chain Finance

SharpLink sees its treasury strategy as a way to push institutional adoption of Ethereum infrastructure. The firm stated it wants to set a model for capital deployment that aligns with Ethereum’s future in global finance.

“This is just the beginning of making SharpLink’s ETH treasury resources even more productive for shareholders,” Sheffield said. He noted the firm expects to continue executing similar deals aimed at increasing returns.

Stockholders responded positively, with SBET shares gaining 1.4% on the day of the announcement. The stock closed at $10.28, although it remains down more than 30% from levels seen when the plan was first revealed in October.

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