SharpLink Gaming raised $425M to buy Ethereum for its treasury.
The company issued 69.1M shares at $6.15 each in a PIPE deal.
Consensys led the investment, with the deal closing on May 29, 2025.
SharpLink’s stock price soared over 200% after the announcement.
The funds will be used to acquire Ethereum for treasury reserves.
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SharpLink Gaming Announces $425M Ethereum Investment
SharpLink Gaming revealed a $425 million private placement to fund the purchase of Ethereum for its corporate treasury. The company issued 69.1 million shares at $6.15 each to secure the capital. Consensys led the investment round, with the transaction set to finalize on May 29, 2025.
The firm aims to integrate Ethereum as a strategic asset in its financial reserves. This move highlights a growing trend among publicly traded companies adopting cryptocurrencies to diversify their holdings. SharpLink’s stock surged over 200% following the announcement, jumping from $6 to $35 in pre-market trading.
Details of the Ethereum Treasury Strategy
SharpLink Gaming’s decision to allocate $425 million toward Ethereum underscores its confidence in the cryptocurrency’s long-term value. The company plans to hold the digital asset as part of its treasury reserves, a strategy mirroring moves by other firms diversifying beyond traditional assets.
The private investment in public equity (PIPE) deal involved several institutional investors, with Consensys taking a leading role. This investment structure allowed SharpLink to raise significant capital efficiently while maintaining a streamlined cap table. The company stated that the funds will be used exclusively to acquire Ethereum, positioning it as a pioneer in the gaming sector’s adoption of blockchain technology.
SharpLink’s leadership expressed optimism about Ethereum’s potential, citing its robust ecosystem and widespread use in decentralized applications. The firm believes this investment will strengthen its financial position and align with the evolving digital economy.
This strategic shift also reflects broader market trends, as Ethereum continues to gain traction as a store of value and a foundation for innovative technologies
