SharpLink Gaming, known for adopting an Ethereum (ETH) treasury strategy, has acquired 11,259 ETH for around $43 million, according to on-chain data tracked by Lookonchain. The latest purchase brings the company’s total ETH holdings to 449,276 ETH valued at $1.7 billion.

The Nasdaq-listed gaming technology firm has amassed around $823 million so far this month. The new acquisition was executed on July 31 in a single transaction using the USDC stablecoin.

SharpLink now ranks as the second-largest institutional holder of Ethereum, only behind Tom Lee-led Bitmine Immersion Technologies. In addition to ETH accumulation, the company is actively participating in the Ethereum layer 2 network Linea, managed by Consensys, aiming to facilitate token distribution and network growth.

Sharplink (SBET) jumped 3% in early Thursday trading, per Yahoo Finance. The stock has skyrocketed nearly 97% in just one month.