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SharpLink Gaming Raises $200 Million in Direct Offering to Push Ethereum Reserve Past $2 Billion

The Nasdaq-listed firm will use its $19.50-per-share raise to expand its fully staked ether treasury beyond $2 billion in value.

Sharplink raises $200m in direct offering to raise eth holdings to $2b
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SharpLink Gaming secures $200M to expand Ether holdings
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Overview

  • SharpLink entered into a Form S-3ASR registered direct offering with four global institutional investors to raise $200 million at $19.50 per share, with closing expected around August 8, 2025.
  • All net proceeds will be deployed toward ether purchases, propelling holdings above $2 billion after last week’s acquisition of 83,561 ETH brought the total to 521,939 ETH valued at over $1.9 billion.
  • The company stakes 100 percent of its ether reserves, generating $3.4 million in rewards since June to compound its treasury strategy.
  • This latest raise builds on more than $540 million secured through at-the-market equity programs since June, underpinning SharpLink’s aggressive ETH accumulation approach.
  • With its rapidly growing stash, SharpLink has become the second-largest corporate ether holder behind BitMine, reflecting a broader shift toward treating crypto as a core balance-sheet asset.