At SharpLink, we don’t just report how much $ETH we hold

We also track how much $ETH each share represents

We call this metric $ETH Concentration, and it shows how much Ethereum backs every 1,000 shares of SBET

It’s calculated as:

Total $ETH held ÷ 1,000 diluted shares outstanding

That includes all issued shares, options, warrants, and other convertible equity, giving investors a transparent picture of ETH-per-share

Since launching our $ETH strategy on June 13, $ETH Concentration has grown from ~2.00 to ~2.24, a 12% increase in just over a month

Why does it matter?

Because the more $ETH per share, the more Ethereum-backed value each investor holds

The asset is $ETH, the ticker is $SBET