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SharpLink Gaming Shares Surge 9.8% on Ethereum Treasury Plan
Generated by AI AgentAinvest Pre-Market Radar
Thursday, May 29, 2025 5:10 am ET1min read
SharpLink Gaming shares surged 9.81% in pre-market trading on May 29, 2025, following a major strategic shift centered on blockchain assets.
The company announced a $425 million private placement led by Consensys Software, a blockchain technology firm. Proceeds will fund the establishment of an Ethereum-focused treasury strategy, with Ethereum co-founder Joseph Lubin joining SharpLink’s board. This marks a pivot toward holding cryptocurrencies as core assets, a move aimed at capitalizing on blockchain’s growing role in digital economies.
The financing catalyzed a dramatic price surge, building on a 78.72% jump the prior day. Analysts previously flagged concerns over declining revenues and losses, but the Ethereum treasury plan has reignited investor optimism. TipRanks’ AI model, which recently rated the stock as “Underperform,” may reassess its stance given the strategic realignment.
Despite limited Wall Street coverage, the news erased year-to-date and year-over-year declines, underscoring market enthusiasm for blockchain-integrated business models. SharpLink’s pivot positions it as a contender in the evolving crypto-financial sector, though execution risks remain tied to regulatory and market volatility.
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