SharpLink Gaming Acquires $462.95 Million in ETH, Boosts Holdings by 11.8%

SharpLink Gaming, Inc. has made a significant move in the digital asset space by acquiring 176,270.69 ETH for an aggregate purchase price of $462,947,816, inclusive of fees and expenses. This acquisition was made at an average price of $2,626 per ETH, positioning SharpLink as the largest publicly-traded holder of ETH globally, second only to the Ethereum Foundation. The company's strategic acquisition is part of a broader initiative to adopt ETH as its primary treasury reserve asset, reflecting a strong belief in the role of Ethereum in digital commerce and decentralized applications.

In addition to the initial PIPE transaction from May 26, 2025, SharpLink also raised an additional $79 million in approximate gross proceeds through its at-the-market (ATM) facility. A majority of these ATM proceeds were used to fund further purchases of ETH, contributing to the total acquisition. These collective purchases have resulted in ETH per share growth of 11.8% since June 2, 2025. As of June 13, 2025, over 95% of SharpLink’s ETH holdings are actively deployed in staking and liquid staking solutions, enhancing Ethereum’s network security while generating native yield.

Rob Phythian, Chief Executive Officer of SharpLink Gaming, emphasized the significance of this acquisition, stating, "This is a landmark moment for SharpLink and for public company adoption of digital assets. We believe Ethereum is foundational infrastructure for the future of digital commerce and decentralized applications. Our decision to make ETH our primary treasury reserve asset reflects deep conviction in its role as programmable, yield-bearing digital capital."

Joseph Lubin, Chairman of SharpLink Gaming and Co-Founder of Ethereum, added, "SharpLink’s bold ETH strategy represents a pivotal milestone and innovative approach to the institutional adoption of Ethereum. It comes at a unique time when significant stablecoin and digital asset market structure legislation is being considered. Such legislation could serve as a catalyst for the adoption of Ethereum technology, a decentralized network capable of many functions in the onboarding of the global economy. By allocating significant capital to ETH and deploying it in network activities such as staking, SharpLink is both contributing to Ethereum’s long-term security and trust properties while earning additional ETH for that work."

SharpLink's treasury strategy is centered on providing shareholders with meaningful economic exposure to ETH, while reinforcing its belief in blockchain’s role in transforming industries globally. From May 30, 2025, through June 12, 2025, SharpLink sold shares under its $1 billion ATM equity program, raising approximately $79 million in gross proceeds. A majority of these proceeds are intended to be allocated toward additional ETH purchases.

Headquartered in Minneapolis, Minnesota, SharpLink is one of the first Nasdaq-listed companies to develop a treasury strategy centered on ETH. The company is also a trusted marketing partner to leading sportsbooks and online casino gaming operators worldwide. Through its iGaming affiliate marketing network, known as PAS.net, SharpLink focuses on driving qualified traffic and player acquisitions, retention, and conversions to U.S. regulated and global iGaming operator partners. SharpLink also owns and operates a portfolio of direct-to-player, state-specific, affiliate marketing websites designed to attract, acquire, and drive local sports betting and online casino gaming traffic to its valued partners.