SharpLink announces new funding of $400 million to continue increasing its holdings of ETH

ChainCatcher news, according to official news, SharpLink Gaming, Inc. (NASDAQ: SBET) announced today that it has signed a securities purchase agreement with five top global institutional investors, successfully raising $400 million through a registered direct offering.

As of August 10, 2025, the company holds approximately 598,800 Ethereum (ETH), along with about $200 million in ATM financing that has yet to be allocated, bringing the total value of its ETH holdings to an estimated over $3 billion.

SharpLink Co-CEO Joseph Chalom stated, "The nearly $900 million in financing over the past week confirms the market's confidence in our Ethereum financial strategy. The speed and scale of these investments not only reflect trust in SharpLink but also demonstrate the market's broad recognition of Ethereum's transformative potential."

Key terms of the transaction:

• Issue price: $21.76 per share (in accordance with NASDAQ market price rules);
• Total amount raised: approximately $400 million before underwriting commissions;
• Expected closing date: around August 12, 2025 (subject to customary closing conditions).