SharpLink Gaming raises $537 million, boosts ETH holdings to 740,760

SharpLink Gaming Inc. (NASDAQ: SBET) increased its Ethereum holdings to 740,760 ETH as of August 17, 2025, after purchasing 143,593 ETH during the week ending that date, according to a company statement.

The Minneapolis-based company raised $537 million in net proceeds during the week of August 10-15, 2025, through two funding mechanisms. The company generated $146.5 million through its At-the-Market facility and $390 million from a registered direct offering that closed August 11, 2025.

SharpLink paid an average price of $4,648 per ETH for its weekly purchases. The company's total staking rewards reached 1,388 ETH since launching its treasury strategy on June 2, 2025.

The company reported over $84 million in cash on hand that has not yet been deployed for ETH acquisitions. SharpLink's ETH Concentration metric, which measures ETH holdings per 1,000 assumed diluted shares outstanding, rose to 3.87, representing a 94% increase since June 2, 2025.

During the August 10-17 period, SharpLink issued 6.6 million shares through its ATM facility, compared to 13.5 million shares in the previous week. The company describes itself as one of the world's largest publicly traded companies to adopt Ether as its primary treasury reserve asset.

SharpLink Gaming operates in online gaming and maintains operations in Minneapolis, Minnesota.

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