IL0010826191
SharpLink Gaming Announces $425,000,000 Private Placement to Initiate Ethereum Treasury Strategy
SharpLink continues its online performance-based marketing company serving the U.S. sports betting and global iGaming industries
Upon the closing of the Private Placement, SharpLink will adopt an Ethereum Treasury Strategy
Joseph Lubin, the Founder and CEO of Consensys and Co-Founder of Ethereum, will become Chairman of the Board of Directors of the Company effective upon the closing of the private placement
MINNEAPOLIS, May 27, 2025 (GLOBE NEWSWIRE) — SharpLink Gaming, Inc. (NASDAQ:SBET) (the “Company” or “SharpLink”) today announced that it has entered into securities purchase agreements for a private investment in public equity (PIPE) for the purchase and sale of 69,100,313 shares of common stock (or common stock equivalents in lieu thereof) at a price of $6.15 per share ($6.72 per share for certain members of the Company’s management team), for expected aggregate gross proceeds of approximately $425,000,000, before deducting placement agent fees and other offering expenses.
Consensys Software Inc. acted as the lead investor, and the offering included participation by prominent crypto venture capital firms and infrastructure providers such as ParaFi Capital, Electric Capital, Pantera Capital, Arrington Capital, Galaxy Digital, Ondo, White Star Capital, GSR, Hivemind Capital, Hypersphere, Primitive Ventures, and Republic Digital among others including Rob Phythian, SharpLink’s CEO, and Robert DeLucia, SharpLink’s CFO.
The closing of the offering is expected to occur on or about May 29, 2025, subject to the satisfaction of customary closing conditions. The Company intends to use the funds to acquire the native cryptocurrency of the Ethereum blockchain commonly referred to as “ETH” pending identification of working capital needs and other general corporate purposes. ETH will serve as the Company’s primary treasury reserve asset.
A.G.P./Alliance Global Partners is acting as the sole placement agent in connection with the offering.
“This is a significant milestone in SharpLink’s journey and marks an expansion beyond our core business. On closing, we look forward to working with Consensys and welcoming Joseph to the Board,” said Rob Phythian, Founder and CEO of SharpLink.
“On close, Consensys looks forward to partnering with SharpLink to explore and develop an Ethereum Treasury Strategy and to work with them in their core business as a strategic advisor. This is an exciting time for the Ethereum community, and I am delighted to work with Rob and the team to bring the Ethereum opportunity to public markets,” said Joseph Lubin, Founder and CEO of Consensys and Co-Founder of Ethereum.
The offer and sale of the foregoing securities is being made in a private placement in reliance on an exemption from the registration requirement of the Securities Act of 1933, as amended (the “Securities Act”), pursuant to Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder, and applicable state securities laws. Accordingly, the securities offered in the private placement may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirement of the Securities Act and such applicable state securities laws. Concurrently with the execution of the securities purchase agreements, the Company and the investors entered into a registration rights agreement pursuant to which the Company has agreed to file a registration statement with the Securities and Exchange Commission (the “SEC”) registering the resale of the shares of common stock.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
Advisors
Sullivan & Worcester LLP is acting as legal advisor to A.G.P./Alliance Global Partners.
Thompson Hine LLP is acting as legal advisor to SharpLink Gaming, Inc.
Baker Botts L.L.P. is acting as legal advisor to Consensys Software Inc.
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. 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.
Upon closing of the Private Placement, the Company will adopt an Ethereum Treasury Strategy.
About Consensys Software Inc.
Consensys is the leading Ethereum software company, building the infrastructure, tools, and protocols that power the world’s largest decentralized ecosystem. Founded in 2014 by Ethereum co-founder Joseph Lubin, Consensys has played a foundational role in Ethereum’s growth, from pioneering products like MetaMask and Linea to shaping protocol development and staking infrastructure. Today, Consensys continues to lead Ethereum’s evolution through strategic R&D, and direct contributions to network upgrades. With a global product suite, and deep roots across the ecosystem, Consensys is uniquely positioned to accelerate Ethereum’s role as the trust layer for a new global economy, one that is decentralized, programmable, and open to all.
Upon the closing of the Private Placement, Joseph Lubin, Founder and CEO of Consensys, is expected to become Chairman of the Board of Directors of the Company.
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, statements regarding the anticipated closing of the offering, the Company’s anticipated use of the proceeds from the offering, 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 satisfaction of closing conditions for the offering, fluctuations in the market price of ETH and any associated impairment charges that the Company may incur as a result of a decrease in the market price of ETH below the value at which the Company’s ETH are carried on its balance sheet, changes in the accounting treatment relating to the Company’s ETH holdings, the Company’s ability to achieve profitable operations, government regulation of cryptocurrencies and online betting, changes in securities laws or regulations, customer acceptance of new products and services including our ETH treasury strategy, 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. 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.
Contact Information:
INVESTOR AND MEDIA RELATIONS
[email protected]
IL0010826191
SharpLink Begins Utilizing its Share Buyback Program and Reaffirms Commitment to Long-Term Stockholder Value
MINNEAPOLIS, MN, Sept. 09, 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 it has begun to utilize its share buyback program to drive long-term stockholder value.
The Company believes its common stock is significantly undervalued in the market and believes buybacks represent a compelling investment that underscores confidence in its long-term strategy and growth prospects. SharpLink today stands in a position of strength — holding approximately $3.6 billion of ETH with no current outstanding debt. Even more compelling, nearly 100% of the $3.6 billion of ETH is staked, which is generating material revenue for the Company.
While the Company trades below its Net Asset Value (“NAV”), stock repurchases are immediately accretive to stockholders. To demonstrate its commitment, the Company began utilizing its share buyback program, starting with the repurchase of approximately 939,000 shares of its common stock at an average price of $15.98. The Company expects to repurchase additional shares based on market conditions using cash on hand, cash available from operating activities like staking, or alternative forms of financing.
SharpLink also reaffirms that it has not utilized its At-the-Market (“ATM”) facility while trading below NAV, as doing so would be dilutive on an ETH per share basis. If market conditions change, however, the Company reserves the right to utilize the ATM facility in an accretive manner for the stockholders.
“Maximizing stockholder value remains our top priority as we execute on our vision of being the most trusted ETH treasury company in the market,” said Joseph Chalom, Co-Chief Executive Officer of SharpLink. “With a robust balance sheet, zero debt and a powerful ETH treasury generating income, we are in a position of strength. We believe the market currently undervalues our business, and rather than issue equity while trading below NAV, we are focused on disciplined capital allocation — including share repurchases — to increase stockholder value. We continue to be focused on the long-term Ethereum opportunity, and our strategy reflects that.”
About SharpLink Gaming, Inc.
Headquartered in Minneapolis, Minnesota, SharpLink Gaming, Inc. (Nasdaq: SBET) is one of the world’s largest publicly traded companies to adopt 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.
To enhance transparency and investor engagement, SharpLink launched a dynamic ETH dashboard, which includes information regarding market data for the Company and Ethereum, ETH Concentration, basic mNAV, and other relevant metrics related to its ETH treasury.
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 repurchase shares of SharpLink’s common stock, if any, in the open market through its stock repurchase program, potential use of the Company’s ATM facility, 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 generally required to measure certain digital intangible 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. Additionally, for other certain types of crypto assets that are not considered digital intangible assets, the Company uses the historical costs less impairment model. This model may require the Company to record an associated impairment charge reflected in net income as a result of a decrease in the market price of ETH below the cost value at which the Company’s ETH are carried on its balance sheet. 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]Â
Media Contact:
[email protected]
IL0010826191
SharpLink Aligns New Executive Appointment with Strategic Growth Through Time-Based and Performance-Based Equity Awards
MINNEAPOLIS, MN, Sept. 03, 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 that the Compensation Committee of the Board of Directors approved certain equity awards to Joseph Chalom, the Company’s new Co-Chief Executive Officer as a material inducement for him to commence employment with the Company. The equity awards granted to Chalom were made pursuant to his previously disclosed employment agreement.
These awards were granted under the SharpLink Gaming, Inc. Inducement Award Plan as an employment “inducement grant” pursuant to Nasdaq Listing Rule 5635(c)(4). The Inducement Award Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of SharpLink (or following a bona fide period of non-employment) as a material inducement for them to commence employment with SharpLink.
Specifically, Chalom received an award of time-based restricted stock units covering 295,590 shares and an award of performance-based restricted stock units covering 147,795 shares, in each case effective August 27, 2025. Each time-based award will vest over three years, with one-third of the units vesting on the first anniversary of Chalom’s employment commencement date and the remaining units vesting in equal quarterly installments over the next two years. Each performance-based award will vest on the third anniversary of Chalom’s employment commencement date, with payout ranging from 0% to 200% of the units, depending on the extent to which certain annual performance goals, as determined by the Compensation Committee, are achieved over a three-year performance cycle commencing July 1, 2025.
As announced on July 25, 2025, Chalom, a former BlackRock senior executive, was appointed as SharpLink’s new Co-Chief Executive Officer, effective July 24, 2025. He brings world class institutional leadership to the Company, 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.
About SharpLink Gaming, Inc.
Headquartered in Minneapolis, Minnesota, SharpLink Gaming, Inc. (Nasdaq: SBET) is one of the world’s largest publicly traded companies 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 repurchase shares of SharpLink’s common stock, if any, in the open market through its new stock repurchase program, 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 generally 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. Additionally, for certain types of crypto assets, the Company may be required to record associated impairment charges reflected in net income as a result of a decrease in the market price of ETH below the cost value at which the Company’s ETH are carried on its balance sheet. 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]Â
Media Contact:
[email protected]
Total Staking Rewards Increased to 2,318 ETH as of August 31, 2025
MINNEAPOLIS, MN, Sept. 02, 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 issued its update on the Company’s ETH purchases for the period Monday, August 25, 2025 through Sunday, August 31, 2025; and capital raised through its At-the-Market (“ATM”) facility during the week Monday, August 25 through Friday, August 29, 2025.Â
“SharpLink continues to execute our treasury strategy with precision, successfully growing our ETH holdings to 837,230 and consistently earning staking rewards. We remain opportunistic in our capital raising initiatives and will continue to closely monitor market conditions to maximize shareholder value,” stated Joseph Chalom, Co-Chief Executive Officer of SharpLink.
Key Highlights for the Week Ending August 31, 2025:
- Purchased 39,008 ETH.
- $46.6 million in net proceeds were raised through the ATM facility this past week.
- Average ETH purchase price for the week was $4,531.
- Total ETH holdings increased to 837,230, currently valued at over $3.6 billion.
- Total staking rewards rose to 2,318 ETH since launch of treasury strategy on June 2, 2025.
- ETH Concentration rose to 3.94, up over 97% since June 2, 2025.
- Approximately $71.6 million cash and equivalents on hand.
Weekly ETH and Capital Summary
| Â | Â | Week Ending | Â | |||||||||||||
| Units of ETH (K) | Â | 8/10/25 | Â | Â | 8/17/25 | Â | Â | 8/24/25 | Â | Â | 8/31/25 | Â | ||||
| Beginning Balance | Â | Â | 521.9 | Â | Â | Â | 596.8 | Â | Â | Â | 740.8 | Â | Â | Â | 797.7 | Â |
| ETH Acquired | Â | Â | 74.8 | Â | Â | Â | 143.6 | Â | Â | Â | 56.5 | Â | Â | Â | 39.0 | Â |
| ETH Staking Rewards | Â | Â | 0.1 | Â | Â | Â | 0.3 | Â | Â | Â | 0.4 | Â | Â | Â | 0.5 | Â |
| Ending Balance | Â | Â | 596.8 | Â | Â | Â | 740.8 | Â | Â | Â | 797.7 | Â | Â | Â | 837.2 | Â |
| Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â |
| Avg ETH Purchase Price | Â | $ | 4,051 | Â | Â | $ | 4,648 | Â | Â | $ | 4,462 | Â | Â | $ | 4,531 | Â |
| ETH Concentration* | Â | Â | 3.59 | Â | Â | Â | 3.87 | Â | Â | Â | 3.80 | Â | Â | Â | 3.94 | Â |
| ATM Shares Issued (m) | Â | Â | 13.5 | Â | Â | Â | 6.6 | Â | Â | Â | 18.6 | Â | Â | Â | 2.4 | Â |
| ATM Net Proceeds ($m) | Â | $ | 291.8 | Â | Â | $ | 146.5 | Â | Â | $ | 360.9 | Â | Â | $ | 46.6 | Â |
| Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â |
* To enhance transparency into the Company’s yield performance, SharpLink introduced a new reporting metric called “ETH Concentration.” This metric is calculated by dividing the number of ETH SharpLink holds by each 1,000 assumed diluted shares issued and outstanding (“Assumed Diluted Shares Outstanding”). Assumed Diluted Shares Outstanding represents the sum of (i) SharpLink’s actual shares of common stock issued and outstanding as of the end of each reporting period, inclusive of disclosed ATM sales, plus (ii) the additional shares that would be issued upon the assumed exercise or settlement of all outstanding warrants, pre-funded warrants, stock option awards, and restricted stock units. Notably, Assumed Diluted Shares Outstanding is not calculated using the treasury stock method. It does not account for equity award vesting conditions, stock option exercise prices, or contractual restrictions limiting the convertibility of debt instruments. Additionally, it excludes any assumed share repurchases that would ordinarily be considered under the treasury stock method. Cash-converted basis assumes full cash deployment into ETH at week-ending closing price.
About SharpLink Gaming, Inc.
Headquartered in Minneapolis, Minnesota, SharpLink Gaming, Inc. (Nasdaq: SBET) is one of the world’s largest publicly traded companies 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 generally 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. Additionally, for certain types of crypto assets, the Company may be required to record associated impairment charges reflected in net income as a result of a decrease in the market price of ETH below the cost value at which the Company’s ETH are carried on its balance sheet. 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]Â
Media Contact:
[email protected]
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