SharpLink Gaming, a company that has shifted from sports betting to an Ether treasury model, has entered into a new share purchase agreement worth $400 million with five institutional investors. This deal is intended to boost its Ether holdings, which the company says are expected to exceed $3 billion.
The company’s stock (SBET) closed Monday down 6.6%, at $22.34, despite recovering slightly after hours. This drop came after a strong week where the stock had gained 17.5% and was up 189% for the year since it began its Ether acquisition strategy in May. SharpLink has now raised nearly $900 million in the past week, with its co-CEO, Joseph Chalom, noting that this “underscores the market’s confidence in SharpLink’s ETH treasury strategy.”
With the new funding, SharpLink’s total Ether holdings are set to grow from its current 598,800 ETH (worth about $2.57 billion). The company’s Ether treasury is the second largest among public companies, trailing only Bitcoin mining firm BitMine Immersion Technologies.
The announcement comes as Ether itself is experiencing a resurgence, gaining 44.5% over the past 30 days and trading just over 12% below its all-time high.
August 2025, Cryptoniteuae
