Sharplink Hires Ex-BlackRock Exec After BitMine’s $2B ETH Buy

July 26 2025, Sharplink responded to rival BitMine’s aggressive Ethereum strategy by appointing a 20-year BlackRock veteran as co-CEO, escalating the crypto treasury race.

Former BlackRock Executive Joins Sharplink

Sharplink has appointed Joseph Chalom, a long-time BlackRock executive, as its new co-CEO. The move comes just a day after BitMine Immersion Technologies revealed its $2 billion Ethereum acquisition. Chalom’s background includes shaping BlackRock’s digital asset strategy and playing a major role in launching the iShares Ethereum Trust (ETHA).

His new role at Sharplink will focus on scaling Ethereum-based infrastructure and aligning strategy with public markets. The announcement reflects Sharplink’s growing emphasis on blockchain integration and digital asset management.

BitMine’s Ethereum Push Forces Strategic Moves

BitMine Immersion Technologies recently announced a significant Ethereum treasury expansion, acquiring 566,776 ETH, which is currently valued at more than $2 billion. This follows their June 30 declaration of plans to build a sizable Ethereum treasury. The move puts BitMine ahead of Sharplink’s ETH reserves, which sit at 360,807 ETH after a $259 million purchase last week.

BitMine’s bold step may have triggered Sharplink’s leadership shift, signaling a race between institutions to secure Ethereum reserves and influence in the ecosystem.

Ethereum Becomes Institutional Battleground

Sharplink’s focus on Ethereum-based infrastructure is not new. The firm had already brought Ethereum co-founder Joseph Lubin onto its board last May. In contrast, BitMine countered by appointing Tom Lee of Fundstrat as chairman in June.

Chalom stated that he shares Sharplink’s long-term vision and emphasized the significance of Ethereum-based finance. His arrival further positions the company to compete in Ethereum-driven financial innovation.

Ethereum Treasury Strategy Shapes Corporate Decisions

As Ethereum becomes central to institutional crypto strategy, companies are making executive hires and asset moves to maintain relevance. Ethereum’s expanding ecosystem is influencing decisions at the boardroom level, with Sharplink and BitMine setting the tone for corporate competition.

The Ethereum treasury race is unlikely to slow down, especially as ETH-based infrastructure continues to attract traditional finance veterans.

What Has Happened So Far

• May 2025: Sharplink appointed Ethereum co-founder Joseph Lubin as board chairman.
• June 30, 2025: BitMine announced its plans to build an Ethereum treasury.
• July 2, 2025: Sharplink revealed a $259M ETH purchase (360,807 ETH total).
• July 3, 2025: BitMine disclosed a 566,776 ETH buy worth over $2B.
• July 4, 2025: Sharplink appointed former BlackRock executive Joseph Chalom as co-CEO.