IL0010826191
SharpLink Gaming Reports Full Year 2024 Financial Results
MINNEAPOLIS, March 17, 2025 (GLOBE NEWSWIRE) — SharpLink Gaming, Inc. (Nasdaq: SBET) (“SharpLink” or the “Company”), an online performance-based marketing company serving the U.S. sports betting and global iGaming industries, today announced its financial results for the full year ended December 31, 2024.
Financial Highlights
- Revenues declined 26.1% to $3,662,349 in 2024 from $4,952,725 in 2023.
- Total operating expenses dropped 45.6% to $5,669,248 for the 12 months ended December 31, 2024 compared to $10,425,865 for the same 12-month period in 2023.
- Net income rose to $10,099,619, or $2.29 income per share, from a net loss of $14,243,182, or $5.19 loss per share, for the years ended December 31, 2024 and 2023, respectively.
- Net income from discontinued operations, net of tax, totaled $14,573,262 in 2024, which was up 586.7% from a net loss from discontinued operations, net of tax of $14,243,182 for the prior year.
- Net loss from continuing operations for the 12 months ended December 31, 2024 totaled $4,473,643, representing a 60.2% decrease when compared to a net loss from continuing operations of $11,248,598 for the 12 months ended December 31, 2023.
- As of December 31, 2024, cash on hand was $1,436,729, a 42.2% decrease when compared to cash on hand of $2,487,481 as of December 31, 2023. Total stockholders’ equity was $2,082,869 as of December 31, 2024, which compared to a total stockholders’ deficit of $9,399,769 as of December 31, 2023. From May 2024 through to February 6, 2025, the Company raised gross proceeds, in aggregate, of $1,834,925 pursuant to its At-The-Market Offering, offered under its initial and supplemental prospectuses filed with the U.S. Securities and Exchange Commission – of which $896,215 in gross proceeds were raised as of December 31, 2024 and the remaining $938,710 was raised in early 2025.
2024 Operational Highlights
- On January 18, 2024, SharpLink completed the sale of its Sports Gaming Client Services and SHGN businesses to RSports Interactive, Inc. for $22.5 million in an all-cash transaction.
- Immediately following the sale, SharpLink used a portion of the proceeds from the sale to retire approximately $19.4 million, in aggregate, in outstanding debt obligations, thereby eliminating all interest-bearing debt on its balance sheet.
- On February 13, 2024, completed domestication merger with SharpLink Gaming, Ltd., changing from an Israel limited liability company to a Delaware corporation.
- In February, established new Board of Directors for SharpLink Gaming, Inc. with the appointments of Rob Phythian as Chairman and Leslie Bernhard, Obie McKenzie and Robert Gutkowski as new independent members of the Board.
- In July, announced that the Board of Directors had initiated a formal review process to evaluate strategic alternatives for the Company, including, but not limited to, a sale, merger, strategic business combination or other transaction, which the Board and management felt offered the best opportunities to operative SharpLink’s affiliate marketing business, drive growth and create and maximize value for the Company’s stockholders.
- Subsequent to the end of the year, in February 2025, SharpLink announced that the Company acquired a 10% equity stake in U.K.-based Armchair Enterprises Limited (“Armchair”), which owns and operates CryptoCasino.com. The acquisition was made for $500,000 in cash, along with a right of first refusal to acquire a controlling interest in Armchair.
Rob Phythian, Chairman and CEO of SharpLink Gaming, stated, “As I reflect on our financial results for 2024, I am proud of the decisive actions our leadership has taken to streamline and focus SharpLink’s business operations and position our Company for future growth. The successful sale of our fantasy sports and sports game development businesses and the elimination of our debt marked pivotal moments in our journey. Looking ahead, we remain committed to exploring strategic opportunities that will enhance our affiliate marketing business and increase stockholder value. Our recent investment in Armchair Enterprises is a testament to our proactive approach to identifying and capitalizing on emerging trends in the iGaming space.”
“In particular, we see significant potential in blockchain technologies, which are poised to revolutionize the global digital gaming sector. The transparency, security and efficiency offered by blockchain can enhance user experiences and foster trust within the online gaming community. By embracing these advancements, we believe we can unlock new avenues for growth and makes strides forward in positioning SharpLink as a recognized leader in the markets we serve,” concluded Phythian.
About SharpLink Gaming, Inc.
Headquartered in Minneapolis, Minnesota, SharpLink is a trusted marketing partner to leading sportsbooks and online casino gaming operators worldwide. Through its iGaming 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. SharpLink also owns and operates a portfolio of direct-to-player, state-specific, affiliate marketing websites designed to attract, acquire and drive local sports betting and online casino gaming traffic to its valued partners which are licensed to operate in each respective state. 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 Company’s ability to grow its business through strategic growth opportunities, 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 SEC. 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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