SharpLink Bets Big on Ethereum with $1B Stock Offering
SharpLink Gaming has announced a $1 billion stock offering to fund a major Ethereum purchase, marking a significant shift in its financial strategy.
SharpLink Gaming, a U.S.-based sports betting company, has filed with the SEC to offer up to $1 billion in common stock, intending to use the majority of the proceeds to acquire Ethereum (ETH) and establish an Ethereum-based treasury strategy.
This move follows a recent $425 million private placement where SharpLink sold approximately 69 million shares at $6.15 each to fund an initial ETH acquisition. The company's stock price surged over 400% following the announcement.
Ethereum co-founder Joseph Lubin will join SharpLink's board as chairman, signaling strong support from the Ethereum community.
SharpLink's bold strategy positions it as a pioneer in corporate Ethereum adoption, potentially influencing other companies to consider similar moves.
