SharpLink plans to sell another $5 billion of shares to increase its holdings of Ethereum
2025-07-17 21:38:43
SharpLink Gaming (NASDAQ: SBET), a Minnesota-based company, has filed an updated prospectus with the Securities Exchange Commission (SEC) to issue an additional $5 billion of common stock on top of the original $1 billion to further purchase Ethereum (ETH) for use in the company's treasury. As of July 16, the company held more than 321,000 ETH (approximately $1.10 billion), making it the largest Ethereum enterprise holder currently. The expansion follows a $425 million private placement led by Consensys in June. Consensys CEO and Ethereum co-founder Joseph Lubin now serves as Chairperson of SharpLink's Board of Directors.
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