SharpLink Gaming Secures $425 Million for Ethereum Treasury Strategy

MINNEAPOLIS, May 27, 2025 (GLOBE NEWSWIRE) — SharpLink Gaming, Inc. (NASDAQ:SBET) announced a significant $425 million private placement to adopt Ethereum as its primary treasury reserve asset. The move marks a strategic shift for the online performance-based marketing company serving the U.S. sports betting and global iGaming industries.

The private investment in public equity (PIPE) deal will involve the sale of approximately 69.1 million shares at a price of $6.15 each, with insider shares priced at $6.72 each. The offering is set to close on or about May 29, 2025, pending customary closing conditions, with Consensys Software Inc. leading the investment.

Joseph Lubin, the co-founder of Ethereum and CEO of Consensys, is expected to join SharpLink as the Chairman of the Board following the transaction. This investment will help SharpLink acquire Ethereum (ETH), further enhancing its strategy in the cryptocurrency realm.

Rob Phythian, SharpLink’s Founder and CEO, stated, “This is a significant milestone in SharpLink’s journey and marks an expansion beyond our core business. We look forward to working with Consensys.”

The announcement has generated attention in the market, as it reflects SharpLink’s commitment to integrating cryptocurrency into its business model while also addressing Nasdaq compliance issues faced by the company. Recently, SharpLink executed a reverse stock split to meet listing requirements.

Investors in this financing round include prominent cryptocurrency venture firms such as Pantera Capital, Electric Capital, and Galaxy Digital. SharpLink intends to utilize the raised funds for acquiring ETH and general corporate purposes, signaling a strategic pivot towards digital assets.

The decision to focus on Ethereum comes at a time when its market reputation continues to grow amidst the expanding landscape of decentralized finance.