SharpLink Gaming Raises $400M, ETH Holdings to Surpass $3 Billion

SharpLink Gaming has raised $400 million through a direct offering with institutional investors, priced at $21.76 per share. The company's ETH holdings are expected to exceed $3 billion following the new capital injection. The offering is scheduled to close on August 12, 2025, with A.G.P./Alliance Global Partners as the placement agent. This move underscores institutional confidence in SharpLink's Ethereum-centric investment strategy.

Minneapolis, MN, July 02, 2025 — SharpLink Gaming, Inc. (Nasdaq: SBET) has successfully raised $400 million through a direct offering with five major global institutional investors. The offering, priced at $21.76 per share, is expected to close on August 12, 2025 [1].

The capital raise, combined with the company's existing 598,800 ETH holdings and approximately $200 million in ATM proceeds yet to be deployed, is projected to push SharpLink's ETH holdings above $3 billion in value [1]. This significant investment underscores institutional confidence in SharpLink's Ethereum-centric investment strategy.

The offering was conducted through a registered direct offering priced at-the-market under Nasdaq rules. A.G.P./Alliance Global Partners served as the sole placement agent, while Cantor acted as the financial advisor. The offering was made pursuant to an effective shelf registration statement on Form S-3ASR [1].

SharpLink's $400 million capital raise is part of a broader strategy to expand its Ethereum treasury. This move positions the company as a publicly-traded Ethereum investment vehicle, differentiating itself from other public companies that have primarily used cryptocurrency as a hedge [1].

Joseph Chalom, Co-Chief Executive Officer of SharpLink, commented on the capital raise, stating, "Raising nearly $900 million in capital over the past week underscores the market’s confidence in SharpLink’s ETH treasury strategy. The speed and scale of these investments reflect not only investor trust in SharpLink, but also the growing recognition of Ethereum’s transformative potential" [1].

The immediate investor response reflects confidence in both SharpLink's execution capabilities and Ethereum's long-term value proposition. By utilizing a registered direct offering through an established regulatory channel, the company is accessing capital through a credible and transparent process [1].

SharpLink Gaming, Inc. is one of the world’s largest publicly traded companies to adopt Ethereum as its primary treasury reserve asset. The company aims to reimagine the future of online gaming by building scalable, secure, and transparent solutions that challenge outdated models and bring real innovation to the user experience [1].

References:
[1] https://www.stocktitan.net/news/SBET/sharp-link-s-eth-holdings-expected-to-exceed-3-billion-following-400-76xw0914o58k.html