IL0010826191
SharpLink Gaming Sells Fantasy Sports and Sports Game Development Business Units to RSports Interactive
MINNEAPOLIS, Jan. 23, 2024 (GLOBE NEWSWIRE) — SharpLink Gaming Ltd. (Nasdaq: SBET) (“SharpLink” or the “Company”) today announced that on January 18, 2024, the Company entered into an agreement to sell all of the issued and outstanding shares of common stock or membership interests, as applicable, in its SportsHub/fantasy sports and free to play sports game development business units to RSports Interactive, Inc. (“RSports”) for $22.5 million in an all-cash transaction. Nearly all employees of these acquired business units will also move to RSports to help ensure a seamless transition.
SharpLink further reported that it used approximately $14.9 million of the proceeds from the sale to repay in full all outstanding term loans and lines of credit with its lender; in addition, SharpLink paid approximately $4.5 million to redeem an 8% Interest, 10% Original Issue Discount Senior Convertible Debenture issued to an existing shareholder in connection with a Securities Purchase Agreement signed in February 2023. As a result, the Company is now free of interest bearing debt.
As further detailed in a Current Report on Form 8-K to be filed by the Company with the U.S. Securities and Exchange Commission later today, SharpLink’s Board of Directors considered the following factors, among others, in reaching their decision to approve the sale:
- With the sale consummated, SharpLink expects to significantly reduce its operating expenses, primarily due to a significant reduction in headcount, lower office lease costs, greatly diminished state licensing requirements, elimination of interest bearing debt service and other resulting cost savings, thereby positioning the Company with the ability to achieve positive cash flow from its remaining performance marketing business on an accelerated basis;
- The sale significantly strengthens the Company’s working cash position and total shareholders’ equity and provides the capital necessary to extinguish nearly $19.4 million in interest bearing debt – all without having to rely on dilutive equity financings to support the Company’s future growth;
- The improvement in the Company’s total shareholders’ equity position is expected to enable SharpLink to regain compliance with Nasdaq’s minimum continued listing requirements; and
- The sale of the Company’s fantasy sports and free-to-play games development businesses positions SharpLink as a pure-play, performance marketing company serving the global sports betting and iGaming industries.
In connection with the sale, Chris Nicholas, the Company’s Chief Operating Officer and a member of the Board of Directors, resigned as an officer and director of the Company, effective immediately.
Commenting on the sale, Rob Phythian, SharpLink’s Chief Executive Officer, stated, “This sale represents a pivotal milestone for SharpLink, allowing us to unlock significant value in our fantasy sports and game development businesses and achieve multiple critical objectives without having to turn to a potentially dilutive equity financing to strengthen our financial footing, regain compliance with Nasdaq, and support our efforts to ultimately create sustainable long-term value for our shareholders. Moreover, we are confident that our fantasy sports and sports game development businesses will continue to thrive and prosper in the great hands of RSports, which has exciting plans to elevate the combined businesses to new heights.”
Continuing, Phythian said, “Our remaining sports betting and iGaming performance marketing business will be more focused and simplified, allowing us to prioritize innovation and organic growth, while empowering us to look for strategic opportunities to strengthen SharpLink’s position as a trusted solutions provider to both current and future business partners.”
About RSports Interactive, Inc.
RSports was founded by Randy Eccker, one of the leading digital media and technology figures in the sports industry. He has founded, led, managed or advised over 30 properties or groups across the industry and has participated in over $400 million in corporate transactions over the past 30 years. His experience as a Founder, CEO, Chairman, Board Member or Advisor has been instrumental in the success of many of these companies and has provided him with a powerful view of the industry and extensive relationships with many of its leaders.
About SharpLink Gaming Ltd.
Founded in 2019, SharpLink is an online performance marketing company that delivers unique fan activation solutions to its sportsbook and casino partners. Through its iGaming and affiliate marketing network, known as PAS.net, SharpLink focuses on driving qualified traffic and player acquisitions, retention and conversions to U.S. regulated and global iGaming operator partners worldwide. In fact, PAS.net won industry recognition as the European online gambling industry’s Top Affiliate Website and Top Affiliate Program for four consecutive years by both igamingbusiness.com and igamingaffiliate.com. For more information, please visit www.sharplink.com.
Forward-Looking Statements
This release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the future growth of the fantasy sports and game development businesses sold to RSports Interactive, the Company’s ability to grow its business, the potential benefits of the Company’s products, services and technologies and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, government regulation of online betting, customer acceptance of new products and services, the demand for its products and its customers’ economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company and its competitors, general economic conditions and other risk factors detailed in the Company’s annual report and other filings with the United States Securities and Exchange Commission. The Company does not undertake any responsibility to update the forward-looking statements in this release.
CONTACT INFORMATION:
INVESTOR AND MEDIA RELATIONS
[email protected]
IL0010826191
SharpLink Welcomes BlackRock Digital Assets Pioneer Joseph Chalom as Newly Appointed Co-CEO
Former BlackRock Senior Executive, Joseph Chalom, Appointed Co-CEO of SharpLink Gaming, Inc.
MINNEAPOLIS, MN, July 25, 2025 (GLOBE NEWSWIRE) — SharpLink Gaming, Inc. (Nasdaq: SBET) (“SharpLink” or the “Company”), one of the world’s largest corporate holders of Ether (“ETH”) and prominent industry advocate of Ethereum adoption, today announced the appointment of former BlackRock senior executive Joseph Chalom as its new Co-Chief Executive Officer, effective July 24, 2025. Chalom brings world-class institutional leadership to SharpLink, having spent the past 20 years delivering digital finance innovations at BlackRock, including the launch of the iShares Ethereum Trust (ETHA), the largest Ethereum exchange traded product with over $10 billion in current assets.
Rob Phythian, SharpLink’s current CEO, will transition to the role of President over the next quarter and remain a member of the Company’s Board of Directors.
“Few executives in the world have had the kind of impact Joseph has had in unlocking institutional adoption of digital assets, having pioneered BlackRock’s strategic entry into the space. His decision to join SharpLink is a resounding validation of our ETH treasury strategy and vision for Ethereum to drive profound, transformative change across the global digital economy,” stated Joseph Lubin, SharpLink Chairman, Co-Founder of Ethereum and Founder and CEO of Consensys.
“I am joining SharpLink because I see a powerful opportunity to help shape the future of financial infrastructure and decentralized finance,” said Chalom. “SharpLink’s commitment to aligning its strategic direction with the Ethereum ecosystem reflects a bold and forward-thinking vision – one that deeply resonates with my passion for digital assets and scaling innovative financial technologies. I’m thrilled to be leading SharpLink into its next phase and harnessing Ethereum’s unique value proposition for our shareholders.”
A Fintech Veteran and Digital Assets Leader
Before joining SharpLink, Chalom served as Managing Director, Head of Strategic Ecosystem Partnerships at BlackRock, where he led the firm’s strategy across the digital assets, data and technology ecosystems. He architected strategic partnerships, including BlackRock’s high-profile partnerships with Nasdaq, Coinbase, Anchorage Digital Bank, BNY Mellon and Circle to drive product innovation and broader institutional adoption.
Over his distinguished 20-year tenure at BlackRock, Chalom held multiple senior leadership roles, including serving as BlackRock’s interim Deputy Chief Operating Officer and the Chief Operating Officer of BlackRock Solutions, the division offering Aladdin, BlackRock’s industry-leading portfolio and risk management platform.
Chalom also formerly served on the boards of Securitize, a leader in tokenized assets and digital transfer agency services; and ClarityAI, a top-tier AI-powered sustainability analytics and data platform. He holds a Bachelor of Arts in International Studies from Johns Hopkins University and a law degree from Columbia University School of Law.
About SharpLink Gaming, Inc.
Headquartered in Minneapolis, Minnesota, SharpLink Gaming, Inc. (Nasdaq: SBET) is the world’s largest publicly traded company to adopt Ether (“ETH”) as its primary treasury reserve asset – a move that aligns the Company with the future of digital capital and gives investors direct exposure to Ethereum, the world’s leading smart-contract platform and second largest digital asset.
SharpLink is also reimagining the future of online gaming. Backed by a veteran team with deep roots in sports media, gaming and technology, SharpLink is charting a new course – building scalable, secure and transparent solutions that challenge outdated models and bring real innovation to the user experience. Learn more at www.sharplink.com.
Forward-Looking Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and these forward-looking statements are subject to various risks and uncertainties. Such statements include, but are not limited to, the execution of the Company’s treasury strategy and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, fluctuations in the market price of ETH that will impact the Company’s accounting and financial reporting (see accounting rules discussed below), government regulation of cryptocurrencies and online betting, changes in securities laws or regulations, customer acceptance of new products and services, the demand for its products and its customers’ economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company, changes in applicable laws or regulations, and its competitors, general economic conditions and other risk factors detailed in the Company’s annual report and other filings with the SEC. Under U.S. generally accepted accounting principles, entities are required to measure certain crypto assets at fair value, with changes reflected in net income each reporting period. Changes in the fair value of crypto assets could result in significant fluctuations to the balance sheet and income statement results. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company does not undertake any responsibility to update the forward-looking statements in this press release.
Investor Relations Contact
Sean Mansouri, CFA or Aaron D’Souza
Elevate IR
(720) 330-2829
[email protected]
Media Contact:
[email protected]
Attachment
IL0010826191
SharpLink’s ETH Holdings Increase to 360,807 as of July, 20, 2025; Generated 567 ETH in Staking Rewards Since Treasury Strategy Launch on June 2, 2025
Company Applauds Signing of Genius Act into Law by President Trump
MINNEAPOLIS, MN, July 22, 2025 (GLOBE NEWSWIRE) — SharpLink Gaming, Inc. (Nasdaq: SBET) (“SharpLink” or the “Company”), the world’s largest corporate holder of Ether (“ETH”) as its primary treasury reserve asset, today issued its weekly update on the Company’s ETH holdings and capital raised through its At-The-Market (“ATM”) facility during the week Monday, July 14, 2025 through Sunday, July 20, 2025.
Key Highlights for the Week Ending July 20, 2025:
- ETH holdings rose to 360,807 ETH, up 29% from the previous week.
- 79,949 ETH were purchased, the highest weekly amount in the historical reporting periods.
- Average ETH purchase price for the week was $3,238.
- ETH Concentration rose to 3.06 – up 53% since the Company launched its digital treasury strategy, with $96.6 million ATM net proceeds yet to be deployed to purchase more ETH.
- Total ETH staking rewards have risen to 567 since the Company launched its digital treasury strategy on June 2, 2025.
Weekly ETH and Capital Summary
| Week Ending | ||||||||||||||||
| Units of ETH (K) | 6/29/25 | 7/6/25 | 7/13/25 | 7/20/25 | ||||||||||||
| Beginning Balance | 188.6 | 198.2 | 206.0 | 280.7 | ||||||||||||
| ETH Acquired | 9.5 | 7.7 | 74.7 | 79.9 | ||||||||||||
| ETH Staking Rewards | 0.1 | 0.1 | 0.1 | 0.2 | ||||||||||||
| Ending Balance | 198.2 | 206.0 | 280.7 | 360.8 | ||||||||||||
| Avg ETH Purchase Price | $ | 2,411 | $ | 2,501 | $ | 2,852 | $ | 3,238 | ||||||||
| ETH Concentration | 2.35 | 2.29 | 2.46 | 3.06 | ||||||||||||
| ATM Shares Issued (m) | 2.5 | 5.5 | 24.6 | 3.8 | ||||||||||||
| ATM Net Proceeds ($m) | $ | 24.4 | $ | 64.0 | $ | 413.0 | $ | 96.6 | ||||||||
“We continue to strategically leverage our ATM facility to build our ETH treasury in pursuit of our long-term growth objectives,” stated Joseph Lubin, SharpLink Chairman, Co-Founder of Ethereum and Founder and CEO of Consensys. “The continued strength of ETH and our ability to acquire significant volume at opportunistic prices support our aim to continue enhancing ETH concentration and shareholder value through disciplined execution of our treasury growth strategies.”
Commentary on the Genius Act
SharpLink applauds the recent signing of the Genius Act into law by President Donald J. Trump, which marks a watershed moment for the digital asset and blockchain industries. The bipartisan legislation establishes a clear regulatory framework for digital assets and smart contract protocols in the United States, providing long-awaited clarity for companies like SharpLink that are actively integrating blockchain technologies into their platforms. This historic legislation is expected to unlock new opportunities for innovation, investment and institutional adoption, and helps to affirm SharpLink’s short- and long-term digital asset growth strategies.
Lubin continued, “With the Genius Act now law, the regulatory uncertainty that has surrounded crypto innovation is finally easing. We believe this ushers in a more supportive environment for companies like SharpLink to not only operate and grow, but also to harness the full potential of Ethereum — including its security, scalability and smart contract utility — to drive profound, transformative change across the global digital economy.”
About SharpLink Gaming, Inc.
Headquartered in Minneapolis, Minnesota, SharpLink Gaming, Inc. (Nasdaq: SBET) is the world’s largest publicly traded company to adopt Ether (ETH) as its primary treasury reserve asset – a move that aligns the Company with the future of digital capital and gives investors direct exposure to Ethereum, the world’s leading smart-contract platform and second largest digital asset.
SharpLink is also reimagining the future of online gaming and sports betting. Backed by a veteran team with deep roots in sports media, gaming and technology, SharpLink is charting a new course – building scalable, secure and transparent solutions that challenge outdated models and bring real innovation to the betting experience. By leveraging smart contracts, DeFi protocols and Web3 infrastructure, SharpLink intends to assume the lead in transforming the multi-billion-dollar iGaming industry into a more dynamic, efficient and equitable ecosystem. Learn more at www.sharplink.com.
Forward-Looking Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and these forward-looking statements are subject to various risks and uncertainties. Such statements include, but are not limited to, the execution of the Company’s treasury strategy and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, fluctuations in the market price of ETH that will impact the Company’s accounting and financial reporting (see accounting rules discussed below), government regulation of cryptocurrencies and online betting, changes in securities laws or regulations, customer acceptance of new products and services, the demand for its products and its customers’ economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company, changes in applicable laws or regulations, and its competitors, general economic conditions and other risk factors detailed in the Company’s annual report and other filings with the SEC. Under U.S. generally accepted accounting principles, entities are required to measure certain crypto assets at fair value, with changes reflected in net income each reporting period. Changes in the fair value of crypto assets could result in significant fluctuations to the balance sheet and income statement results. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company does not undertake any responsibility to update the forward-looking statements in this press release.
Investor Relations Contact
Sean Mansouri, CFA or Aaron D’Souza
Elevate IR
(720) 330-2829
[email protected]
Media Contact:
[email protected]
IL0010826191
SharpLink Becomes World’s Largest Corporate Holder of ETH, Reaching 280,706 as of July 13, 2025; Raises Additional $413 Million From July 7-11, 2025
Earns 415 ETH in Staking Rewards Since Treasury Strategy Launch on June 2, 2025
MINNEAPOLIS, MN, July 15, 2025 (GLOBE NEWSWIRE) — SharpLink Gaming, Inc. (Nasdaq: SBET) (“SharpLink” or the “Company”), the world’s largest publicly traded company to adopt Ether (“ETH”) as its primary treasury reserve asset, today announced it has officially become the world’s largest corporate holder of ETH with 280,706 ETH as of July 13, 2025. Key highlights include:
- During the period July 7 through July 13, 2025, the Company purchased 74,656 ETH at a weighted average price of $2,852.
- SharpLink raised approximately $413 million in net proceeds via its At-The-Market facility (“ATM”), issuing 24,572,195 shares of common stock during the week of July 7 through July 11, 2025.
-
- Approximately $257 million has yet to be committed to ETH purchases as of July 13, 2025.
The Company plans to continue providing detailed updates on its treasury activities for best-in-class investor transparency.
Staking Progress and Yield Optimization
As of July 11, 2025, the Company had allocated 99.7% of its ETH holdings to staking protocols – highlighting its continued commitment to maximizing returns from its ETH treasury. Between July 7 and July 11, 2025, SharpLink earned approximately 94 ETH in staking rewards, bringing its cumulative reward total to 415 ETH since launching the strategy on June 2, 2025.
ETH Concentration Metric
As previously reported, SharpLink recently introduced a proprietary metric known as “ETH Concentration.” This metric is designed to gauge the Company’s ETH exposure relative to its capital structure.
ETH Concentration is calculated as: Total ETH Held ÷ 1,000 Assumed Diluted Shares Outstanding.
Assumed Diluted Shares Outstanding includes all issued and outstanding shares, ATM sales and shares issuable upon conversion or exercise of warrants, pre-funded warrants, stock options and restricted stock units – excluding treasury method adjustments. Since ETH purchases commenced the week beginning on June 13, 2025, SharpLink’s ETH Concentration has risen from 2.00 ETH to 2.46 ETH as of July 13, 2025, marking a 23% increase in just over one month with approximately $257 million still to be deployed.
About SharpLink Gaming, Inc.
Headquartered in Minneapolis, Minnesota, SharpLink Gaming, Inc. (Nasdaq: SBET) is the world’s largest publicly traded company to adopt Ether (“ETH”) as its primary treasury reserve asset – a move that aligns the Company with the future of digital capital and gives investors direct exposure to Ethereum, the world’s leading smart-contract platform and second largest digital asset.
SharpLink is also reimagining the future of online gaming and sports betting. Backed by a veteran team with deep roots in sports media, gaming and technology, SharpLink is charting a new course – building scalable, secure and transparent solutions that challenge outdated models and bring real innovation to the betting experience. By leveraging smart contracts, DeFi protocols and Web3 infrastructure, SharpLink intends to assume the lead in transforming the multi-billion-dollar iGaming industry into a more dynamic, efficient and equitable ecosystem. Learn more at www.sharplink.com.
Forward-Looking Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and these forward-looking statements are subject to various risks and uncertainties. Such statements include, but are not limited to, the execution of the Company’s treasury strategy and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, fluctuations in the market price of ETH that will impact the Company’s accounting and financial reporting (see accounting rules discussed below), government regulation of cryptocurrencies and online betting, changes in securities laws or regulations, customer acceptance of new products and services, the demand for its products and its customers’ economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company, changes in applicable laws or regulations, and its competitors, general economic conditions and other risk factors detailed in the Company’s annual report and other filings with the SEC. Under U.S. generally accepted accounting principles, entities are required to measure certain crypto assets at fair value, with changes reflected in net income each reporting period. Changes in the fair value of crypto assets could result in significant fluctuations to the balance sheet and income statement results. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company does not undertake any responsibility to update the forward-looking statements in this press release.
Investor Relations Contact
Sean Mansouri, CFA or Aaron D’Souza
Elevate IR
(720) 330-2829
[email protected]
Media Contact:
[email protected]
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