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SharpLink Raises $76.5M in Premium-Priced Stock Deal to Expand Ether Holdings
The sale reflects "strong institutional confidence," the company said, with an unnamed investor also receiving an option to buy another 4.5 million shares
Oct 16, 2025, 1:47 p.m.
What to know:
- SharpLink Gaming (SBET), the second-largest publicly traded ether treasury firm, has raised $76.5 million in a direct stock offering priced above market.
- The sale reflects "strong institutional confidence" in the company's ether-focused strategy, the company said.
- The capital raise gives SharpLink more runway to continue stockpiling ether.
The second-largest publicly traded ether treasury firm, SharpLink Gaming (SBET), has raised $76.5 million in a direct stock offering priced above market.
The Minneapolis-based company said in a press release it sold 4.5 million shares at $17 per share, a 12% premium over its $15.15 closing price on Oct. 15.
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The sale price also reflected a premium to the company's net asset value of its 840,124 ETH holdings, reflecting what the company called “strong institutional confidence” in its strategy.
An unnamed institutional investor bought the shares and received a 90-day option to buy another 4.5 million shares at $17.50.
The firm’s ether holdings are second only to that of Bitmine Immersion Technologies (BMNR), which currently has 3.03 million ETH in its treasury.
SBET is higher by 3.7 to $15.57 in early Thursday trade alongside a modest bounce in the price of ETH to back above $4,000.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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