Minneapolis-based online gaming marketing company SharpLink Gaming Inc. has announced a significant strategic move, filing with the Securities and Exchange Commission (SEC) to sell up to $5 billion worth of additional common stock. The primary objective of this substantial stock offering is to fund the acquisition of Ethereum (ETH) for its corporate treasury, further solidifying its pivot into the digital asset space.
Expanding Stock Offering and Ethereum Accumulation
This new stock sale programme supplements an existing $1 billion authorisation, bringing SharpLink’s total potential offering under its agreement with sales agent A.G.P./Alliance Global Partners to an impressive $6 billion. The company has already utilised approximately $720.8 million from its prior authorisation. SharpLink explicitly stated its intention to use “substantially all” cash proceeds from these new sales to acquire ETH, the native cryptocurrency of the Ethereum blockchain.
SharpLink adopted ETH as its primary treasury reserve asset in May 2025, citing goals of diversifying its reserves, enhancing capital efficiency, and aligning with emerging financial technologies. As of July 13, the company reported to the SEC that it held 280,706 ETH, with a remarkable 99.7% of these holdings deployed for staking rewards, indicating a strategy to maximise returns from its digital assets. The company’s stock, trading on Nasdaq under “SBET,” closed at $37.38 on July 16, reflecting market interest in its aggressive crypto strategy.
Strategic Pivot to Crypto Gaming
Beyond its treasury strategy, SharpLink Gaming is actively expanding into the burgeoning crypto gaming sector. The company, traditionally focused on performance-based marketing for sportsbooks and casinos, has acquired a stake in the domain Cryptocasino.com, signalling its broader commitment to Web3 innovation within the iGaming industry. This strategic pivot aims to leverage blockchain technology for secure, transparent, and engaging gaming experiences, positioning SharpLink as an early mover in this rapidly growing market.
The SEC filing details that stock sales will occur “at the market” through Nasdaq or other U.S. venues. A.G.P./Alliance Global Partners will earn commissions ranging from 2.0% to 4.0% based on sales volume and type. While the primary use of proceeds is ETH acquisition, SharpLink also noted that funds may cover working capital, corporate expenses, and core operations. This bold move underscores SharpLink’s commitment to its Ethereum-centric financial strategy and its ambition to become a leading player in the intersection of traditional gaming and the decentralised digital economy.
