SharpLink Gaming, Inc. (Nasdaq: SBET) ("SharpLink" or the "Company") announced today the strategic acquisition of 176,270.69 ETH for a total value of $462,947,816 (including fees and expenses), at an average acquisition price of $2,626 per ETH (including fees and expenses). This acquisition positions the Company as the largest publicly traded holder of ETH in the world, and the second largest holder after the Ethereum Foundation. In addition to the initial PIPE transaction on May 26, 2025, the Company also revealed that it raised an additional approximately $79 million in gross revenues through its at-the-market mechanism ("ATM"). With most of the ATM resources used to finance additional ETH purchases, contributing to the total above, these collective purchases have generated an ETH per share growth of 11.8% since June 2, 2025.
On June 13, 2025, over 95% of SharpLink's ETH holdings are actively deployed in staking and liquid staking solutions, contributing to the security of the Ethereum network while generating native yield.
"This is a historic moment for SharpLink and for the adoption of digital assets by public companies," said Rob Phythian, CEO of SharpLink Gaming.
"SharpLink's bold ETH strategy represents a crucial milestone and an innovative approach to institutional adoption of Ethereum. This comes at a unique time when the United States Congress is moving forward to pass significant legislation regarding stablecoins and structure.
SharpLink is the first Nasdaq-listed company to adopt an ETH-centered treasury reserve policy. Through this initiative, SharpLink aims to provide shareholders with significant economic exposure to ETH, reinforcing its belief in the role of blockchain in transforming industries globally.
From May 30, 2025, to June 12, 2025, SharpLink sold shares under its $1 billion ATM capital program, and so far has raised approximately $79 million in gross revenues, most of which it intends to allocate to additional ETH purchases.