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SharpLink Gaming announces Ethereum Treasury Reserve Strategy, aiming to raise $425 million for accumulation.

2025.05.27 20:40:16

On May 27th, according to GlobenewsWire, the U.S. listed company SharpLink Gaming, Inc. (Nasdaq: SBET) announced today that it has entered into a securities purchase agreement for a private placement worth $425 million. It plans to issue approximately 69.1 million shares of common stock (or equivalent securities) at a price of $6.15 per share (with company management team members at $6.72 per share). Consensys Software Inc. will take the lead in the investment as the main investor, and participants include ParaFi Capital, Electric Capital, Pantera Capital, Galaxy Digital, and other well-known crypto venture capital firms. The transaction is expected to be completed on May 29th. SharpLink intends to use the raised funds to purchase Ethereum as the company's primary treasury reserve asset. After the transaction is completed, Joseph Lubin, the co-founder of Ethereum and the founder and CEO of Consensys, will serve as the chairman of the SharpLink board and act as a strategic advisor to assist the company in developing its core business.
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