SharpLink Bets $170M ETH on Linea Layer-2
Ethereum Treasury Firm SharpLink Stakes $170 Million of ETH on Linea
SharpLink Gaming, a publicly traded Ethereum treasury firm, said it has staked $170 million worth of ETH on Linea, an Ethereum layer-2 scaling network.
The Minneapolis-based company announced the deployment on Thursday, describing the move as part of its approach to putting its ETH holdings to work through staking.
Staking typically involves locking up ETH to help secure a network and validate activity in exchange for staking rewards. By choosing Linea, SharpLink is directing a large allocation of ETH to an Ethereum layer-2 system rather than staking solely on Ethereum’s main network.
Layer-2 networks such as Linea are designed to process transactions more efficiently while relying on Ethereum for security and settlement. Firms deploying capital to these networks can be seen as supporting the infrastructure used to scale Ethereum-based applications.
SharpLink had previously indicated it planned to stake its ETH holdings, and Thursday’s announcement reflects a sizable execution of that strategy using Linea as the venue.
