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CORRECTION: SharpLink Gaming Increases ETH Treasury Holdings to 198,167; Staking Rewards Yield 222 ETH Since June 2, 2025
Company Appoints Elevate IR as Investor Relations Firm of Record MINNEAPOLIS, MN, July 01, 2025 (GLOBE NEWSWIRE) -- SharpLink Gaming, Inc. (Nasdaq: SBET)
About this update from Sharplink, Inc.
[{"type":"text","content":"Company Appoints Elevate IR as Investor Relations Firm of Record MINNEAPOLIS, MN, July 01, 2025 (GLOBE NEWSWIRE) -- SharpLink Gaming, Inc. (Nasdaq: SBET) (“SharpLink” or the “Company”), the largest publicly traded holder of Ethereum (“ETH”) in the world, today announced that the Company has strategically increased its total holdings of ETH to 198,167, acquiring an additional 9,468 ETH for $22,825,734 (inclusive of fees and expenses) at a weighted average price of $2,411 per ETH (inclusive of fees and expenses) during the period June 23, 2025 through June 27, 2025. In addition, during that same period SharpLink raised approximately $24.4 million in net proceeds through its At-The-Market facility (“ATM”), selling 2,525,637 shares of the Company’s common stock. A majority of the ATM proceeds from these sales will be used to further increase SharpLink’s ETH treasury holdings. Joseph Lubin, SharpLink Chairman and Co-Founder of Ethereum, stated, “We are entering a new era where digital assets like Ethereum are no longer speculative instruments – they are fast becoming the strategic currency of the modern digital economy. By embedding Ethereum at the core of our capital strategy, we are doing more than optimizing SharpLink’s balance sheet. We are positioning the Company to command global leadership of the evolution of digital commerce.” As of June 30, 2025, 100% of SharpLink’s ETH reserves have been deployed in staking protocols. During the period June 21, 2025 through June 27, 2025, SharpLink earned 102 ETH in rewards.To enhance transparency into the Company’s yield performance, SharpLink introduced a new reporting metric called “ETH Concentration.” This metric is calculated by dividing the number of ETH SharpLink holds by 1,000 assumed diluted shares issued and outstanding (“Assumed Diluted Shares Outstanding”). Assumed Diluted Shares Outstanding represents the sum of (i) SharpLink’s actual shares of common stock issued and outstanding as of the end of each reporting period, inclusive of disclosed ATM sales, plus (ii) the additional shares that would be issued upon the assumed exercise or settlement of all outstanding warrants, pre-funded warrants, stock option awards, and restricted stock units. Notably, Assumed Diluted Shares Outstanding is not calculated using the treasury stock method. It does not account for equity award vesting...