SharpLink Gaming Shares Climb 16% as ETH Holdings Seen Jumping Above $3 Billion
$SharpLink Gaming(SBET)$ shares climbed 16% Monday after the $Ethereum (ETH.CC)$ treasury company said its holdings of the cryptocurrency is expected to surpass $3 billion after its direct offering.
The company said it agreed to sell a total of $400 million in securities to five global institutional investors under a registered direct offering. The company now hold about 598,800 ETH as of Aug. 10, 2025, with about $200 million in proceeds from its at-the-market offering yet to be deployed, it said. The offering is expected to close tomorrow, it said.
The company raised almost $900 million in capital over the past week, CEO Joseph Chalom said in a press release Monday.
"The speed and scale of these investments reflect not only investor trust in SharpLink, but also the growing recognition of Ethereum’s transformative potential,” Chalom said.
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