COINOTAG News on August 26, citing crypto KOL AB Kuai.Dong, reported that the Ethereum-focused vehicle Ethereum Micro Strategy operator SharpLink has a total market capitalization of $3.237 billion, while its disclosed ETH holdings are valued at $3.28 billion.
According to the same source, sector peer Bitmine shows a market capitalization of $8.605 billion with reported ETH holdings totaling $7.59 billion, highlighting the firms’ balance-sheet exposure to Ethereum (ETH) rather than operating cash flows.
On a valuation basis, SharpLink’s market cap is marginally below the stated value of its crypto inventory, while Bitmine’s market capitalization exceeds its ETH position by roughly $1.015 billion; these figures serve as relevant inputs for NAV and relative-valuation analysis.