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SharpLink Gaming Acquires 176,271 ETH For $463M At Average Acquisition Price Of $2,626 Per ETH

Benzinga·06/13/2025 12:02:27
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SharpLink Gaming, Inc. (NASDAQ:SBET) ("SharpLink" or the "Company") today announced the strategic acquisition of 176,270.69 ETH for an aggregate purchase price of $462,947,816 (inclusive of fees and expenses), at an average acquisition price of $2,626 per ETH (inclusive of fees and expenses). This acquisition positions the Company as the largest publicly-traded holder of ETH in the world, and the second largest holder behind the Ethereum Foundation. 

In addition to the initial PIPE transaction from May 26, 2025, the Company also disclosed it raised an additional $79 million in approximate gross proceeds through its at-the-market ("ATM") facility. With a majority of the ATM proceeds used to fund further purchases of ETH, contributing to the total above, these collective purchases have generated ETH per share growth of 11.8% since June 2, 2025.

As of June 13, 2025, over 95% of SharpLink's ETH holdings are actively deployed in staking and liquid staking solutions, contributing to Ethereum's network security while generating native yield.