Sharplink Gaming Raises $537 Million and Increases Its Ethereum Holdings to

740,760 Sharplink Gaming (SBET) has increased its Ethereum holdings to 740,760 Ethereum as of August 17, 2025, after purchasing 143,593 Ethereum during the week ending on that date, according to the company's statement.

The Minneapolis-based company raised $537 million in net proceeds during the week of August 10-15, 2025, through two financing mechanisms. The company generated $146.5 million through the At-the-Market trading platform and $390 million from a registered direct offering that closed on August 11, 2025.

Sharplink paid an average price of $4,648 per Ethereum for its weekly purchases. The company's total staking rewards have reached 1,388 Ethereum since launching its treasury strategy on June 2, 2025.

The company reported that it has over $84 million in cash not yet used to buy Ethereum. Sharplink's Ethereum concentration metric, which measures Ethereum holdings per 1,000 diluted common shares outstanding, increased to 3.87, representing a 94% increase since June 2, 2025.

During the period from August 10-17, Sharplink issued 6.6 million shares through the At-the-Market trading platform, compared to 13.5 million shares in the previous week. The company describes itself as one of the largest publicly traded companies in the world that adopts Ether as a primary reserve asset for its treasury. #ETHStakingExitWatch