SharpLink Gaming has announced a major capital raise, securing $76.5 million by issuing equity at $17 per share, a 12% premium to market price.
The company also introduced a first-of-its-kind 90-day premium purchase contract at $17.50 per share, potentially adding another $79 million in capital if fully exercised. That marks a 19% premium, a strong show of investor confidence in SharpLink’s long-term Ethereum-focused strategy.
Unlike typical equity raises priced below market value, SharpLink sold shares above both market and mNAV levels, making this deal accretive to shareholders rather than dilutive.
The fresh capital gives SharpLink $76.5 million in immediate liquidity, which the company plans to deploy directly into growing its ETH per share metric, a key benchmark for its treasury performance.
“This raise solidifies our focus on long-term ETH value creation,” SharpLink said in its announcement, highlighting the company’s vision of becoming the most trusted, ETH-per-share-obsessed treasury in the decentralized asset technology (DAT) ecosystem.
SharpLink’s announcement lands in the middle of a growing trend among public companies aggressively accumulating ETH.
According to recent Q3 filings and on-chain tracking, 95% of all corporate ETH holdings were acquired within the last three months.
Public firms now collectively hold 4.63 million ETH, valued at roughly $19 billion based on CoinMarketCap data.
That represents nearly 4% of Ethereum’s total circulating supply.
Leading the list are BitMine, holding over 3 million ETH, and SharpLink, with 840,000+ ETH in its treasury.
This accumulation isn’t passive.
Companies are not just holding ETH as a speculative asset, they’re integrating it into their core business and staking operations.
SharpLink confirmed it continues to stake portions of its ETH reserves, earning yield through network participation while maintaining liquid reserves for strategic deployment.
Other firms, like Bit Digital, have gone even further, completely exiting Bitcoin exposure to pivot fully into Ethereum.
It marks a defining shift:
Web3 is no longer theoretical.
Corporations are buying, integrating, and building on Ethereum as a productive, yield-bearing asset.
SharpLink’s model centers on a single performance metric: increasing Ethereum per share.
By converting raised capital into ETH and compounding yield through staking, the firm effectively ties shareholder value to Ethereum’s performance and network expansion.
This strategy aligns with the growing “on-chain treasury” model, where corporate balance sheets are partially decentralized, earning yield natively on blockchain networks rather than through traditional banking systems.
SharpLink has described its treasury structure as “long-term, ETH-obsessed, and built for shareholder value creation.”
With the new funding, the company plans to:
Each of these steps strengthens the link between the company’s market valuation and the underlying value of its ETH assets.
Institutional sentiment toward Ethereum continues to strengthen.
Q3 2025 saw record inflows from traditional investment vehicles and corporate entities, signaling deepening adoption.
Ethereum’s price, which hovers around $3,796 (CoinMarketCap, Oct 2025), has benefited from this wave of accumulation and staking activity.
Major inflows have also come through ETFs and structured funds, particularly from Canada and the U.S., where firms like CI Global and BitMine have publicly disclosed large Ethereum holdings.
The result: Ethereum’s institutional footprint is expanding faster than Bitcoin’s did during its 2020 adoption phase, with a heavier focus on utility, staking, and decentralized finance integrations.
SharpLink’s premium equity raise signals a broader market shift, one where corporate ETH holdings are treated as a strategic treasury asset rather than a speculative investment.
The company’s early adoption of Ethereum aligns with a new class of Web3-native enterprises that blend traditional finance with on-chain participation.
Its focus on treasury transparency, accretive financing, and staking integration positions it as a model for future blockchain-aligned corporations.
As the company put it, “We will continue to work night and day to identify opportunities that create value for our shareholders.”
That commitment now comes backed by $76.5 million in fresh capital and potentially $79 million more through its innovative purchase contract mechanism.
If the pace of institutional ETH accumulation continues, Q4 could see another record quarter for both corporate staking and Layer-2 integration.
As decentralized protocols mature and yield opportunities stabilize, more companies are expected to follow SharpLink’s lead, building hybrid treasuries that balance ETH exposure with staking rewards.
SharpLink’s latest move adds momentum to this trend, reinforcing Ethereum’s position as the core asset of the new institutional Web3 economy.
SharpLink raises $76.5M at 12% above market, with potential for $79M more.
The deal is accretive, strengthening shareholder value and ETH reserves.
Corporate ETH holdings now total 4.63M ETH (~$19B), led by 27 public firms.
BitMine and SharpLink dominate the leaderboard, with a combined 3.84M ETH.
Firms are staking, integrating, and deploying Ethereum into their business operations.
As ETH staking grows and corporate balance sheets evolve, the narrative is clear:
Ethereum is becoming the backbone of digital treasury strategy.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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