SharpLink Gaming Raises $200M for Ether Treasury Expansion
SharpLink Gaming Secures $200M for Ether Expansion
SharpLink Gaming has obtained $200 million in funding through a registered direct offering with four global institutional investors, the company announced. The funding will be used to significantly expand the company's Ethereum (ETH) treasury.
Key Takeaways
- SharpLink Gaming secured $200 million to expand its Ether holdings.
- The company’s ETH treasury is projected to exceed $2 billion after the funding deployment.
Joseph Chalom, Co-Chief Executive Officer of SharpLink, stated that the company is "proud to be joined by globally-recognized institutional investors," validating their mission to establish the world’s leading ETH treasury.
A.G.P./Alliance Global Partners acted as the lead placement agent, with Société Générale as co-placement agent. Cantor served as financial advisor.
The offering, filed under an effective shelf registration statement on Form S-3ASR, is expected to close around August 8, 2025, subject to standard closing conditions.
SharpLink plans to allocate the net proceeds to its Ethereum treasury. The Nasdaq-listed company recently acquired 83,561 ETH for approximately $304 million, bringing its total holdings to 521,939 ETH, valued at over $1.9 billion, per a regulatory disclosure.
With this capital injection, SharpLink is poised to exceed $2 billion in ETH holdings, solidifying its position as the second-largest corporate holder after BitMine.
As companies continue to integrate digital assets into their treasury strategies, security measures become increasingly crucial. Platforms like Codeum offer blockchain security audits to ensure the safety of assets and smart contracts.