Dollar rebounds despite Fed independence worries; euro slips
MINNEAPOLIS - SharpLink Gaming, Inc. (Nasdaq:SBET) has increased its Ethereum holdings to 188,478 ETH, acquiring an additional 12,207 ETH for approximately $30.7 million at an average price of $2,513 per ETH between June 16 and June 20, 2025. The company, currently trading at $9 per share with a market cap of $548 million, maintains a strong liquidity position with a current ratio of 3.27. InvestingPro analysis indicates the stock is currently overvalued relative to its Fair Value.
The company also raised about $27.7 million in net proceeds through its At-The-Market facility by selling 2.55 million shares of common stock during the same period. SharpLink stated that most of these proceeds will be used to further increase its Ethereum treasury holdings. The stock has shown significant momentum, posting a 16.42% return year-to-date despite high price volatility.
According to the company, 100% of its ETH holdings have been deployed in staking solutions, generating 120 ETH in rewards since launching its ETH-focused treasury strategy on June 2, 2025. The company reports achieving ETH per share growth of 18.97% since that date.
"Increasing SharpLink’s ETH holdings underscores our forward-thinking approach to creating long-term value for our stockholders," said Joseph Lubin, Chairman of SharpLink’s Board and Co-Founder of Ethereum.
SharpLink Gaming describes itself as the largest publicly traded holder of Ethereum in the world. The company operates in the online gaming and sports betting sector while maintaining Ethereum as its primary treasury reserve asset.
The information in this article is based on a company press release statement. Investors should note that under U.S. accounting rules, changes in cryptocurrency fair value could significantly impact reported financial results.
In other recent news, SharpLink Gaming, Inc. has made significant strides with its Ethereum strategy, acquiring 176,270.69 ETH valued at approximately $463 million. This acquisition positions SharpLink as the largest publicly-traded holder of Ethereum, following the Ethereum Foundation. The company also completed a $425 million private placement led by Consensys Software Inc., which supports its Ethereum treasury strategy. Furthermore, SharpLink has regained compliance with Nasdaq’s listing requirements, ensuring its stock meets minimum standards. The company will be under a one-year monitoring period to maintain this compliance. In addition, options trading for SharpLink’s common stock has commenced on the Nasdaq Options Market, potentially enhancing liquidity. SharpLink’s Chairman, Joseph Lubin, addressed the recent volatility in the company’s stock, highlighting the impact of a routine private investment in public equity registration. These developments underscore SharpLink’s commitment to integrating Ethereum into its financial strategies.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.