SharpLink Boosts Stock Sale to $6B to Expand Ethereum Treasury Holdings
SharpLink Gaming (NASDAQ: SBET), the largest publicly known corporate holder of ether (ETH), is significantly ramping up its equity offering as it deepens its commitment to ETH as a treasury asset.
In a revised filing with the U.S. Securities and Exchange Commission (SEC) on Thursday, the Minnesota-based marketing tech firm said it now plans to sell up to $6 billion in common stock — adding $5 billion to its original $1 billion authorization filed in May.
The filing notes that $721 million has already been raised under the initial authorization, leaving $279 million that could still be sold alongside the newly approved $5 billion tranche.
The capital raise reflects SharpLink’s growing conviction in Ethereum. The company currently holds more than 321,000 ETH, valued at roughly $1.1 billion at current prices. Its accumulation accelerated in June after a $425 million private placement led by Ethereum infrastructure firm Consensys — a deal that also brought Ethereum co-founder Joseph Lubin onto SharpLink’s board as chairman.
SharpLink’s aggressive move into ETH mirrors the Bitcoin treasury strategy popularized by MicroStrategy, but marks one of the first large-scale corporate pivots to Ethereum.
With this latest stock sale expansion, SharpLink is solidifying its role as a pioneer in ETH-based corporate treasury management — potentially signaling a new trend in institutional crypto adoption.
