SharpLink Gaming raises ETH holdings to 859,853 tokens worth $3.5 billion

SharpLink Gaming Inc. (NASDAQ: SBET) reported its total Ether holdings increased to 859,853 tokens as of October 19, 2025, according to a company statement. The Minneapolis-based company said its combined ETH and cash holdings reached $3.5 billion.

The company purchased 19,271 ETH during the week ending October 19 at an average cost of $3,892 per token. SharpLink raised gross proceeds of $76.5 million on October 17, before placement agent fees and expenses.

SharpLink's total ETH holdings comprise 601,143 native ETH and 258,710 ETH equivalent from liquid staking tokens. The company reported accumulating 5,671 total staking rewards since launching its treasury strategy on June 2, 2025.

"The capital raise completed last week was executed at a premium to NAV. Shortly thereafter, we took advantage of attractive market conditions to acquire ETH at prices lower than when we raised the capital," stated Joseph Chalom, SharpLink's Co-CEO.

The company maintained approximately $36.4 million in cash and equivalents. SharpLink issued 4.5 million shares as part of the recent capital raise.

SharpLink's ETH Concentration metric, which divides ETH holdings by assumed diluted shares outstanding per 1,000 shares, increased to 4.0, representing a 100% increase since June 2.

The company describes itself as adopting ETH as its primary treasury reserve asset and positions itself among publicly traded companies with significant cryptocurrency holdings.

You May Also Be Interested In

• UBS Mulls Merger With Foreign Bank - Semafor
• Zhibao Technology signs MOU with DeSyn Protocol for BTCfi venture
• ARIA Cybersecurity deploys AZT Protect at animal drug manufacturer