SharpLink Targets $6B Stock Sale to Deepen Ethereum Treasury Bet
SharpLink Gaming (NASDAQ: SBET), the largest corporate holder of ether (ETH), is supercharging its Ethereum-focused treasury strategy by expanding its stock sale authorization to $6 billion.
In a fresh SEC filing on Thursday, the Minnesota-based affiliate marketing firm announced a $5 billion increase to its original $1 billion equity offering, first disclosed in late May. So far, SharpLink has raised $721 million under the initial prospectus and retains the option to sell an additional $279 million under that plan.
“The total amount of Common Stock that may be sold under the Sales Agreement has been increased to $6 billion,” the filing stated.
The capital raise is part of a bold push to accumulate ETH, with SharpLink now holding more than 321,000 ether — worth roughly $1.1 billion at current market prices.
The firm’s crypto pivot accelerated in June after a $425 million private placement led by Consensys. That deal also brought Ethereum co-founder Joseph Lubin onto SharpLink’s board as chairman.
The move marks one of the most aggressive ETH treasury strategies to date and mirrors early Bitcoin accumulation by firms like MicroStrategy — but with Ethereum as the central bet.
SharpLink’s doubling down comes amid growing interest in ETH as both a financial reserve asset and a foundation for decentralized finance and applications.
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