SharpLink Gaming (SBET), backed by Ethereum co-founder Joseph Lubin, announced in a new document filed with the US Securities and Exchange Commission (SEC) that it will raise $5 billion in new capital to increase its Ethereum acquisitions.
SharpLink Gaming, traded on the Nasdaq Capital Market under the symbol “SBET,” has updated its existing offering agreement to increase its public offering from $1 billion to $6 billion. The newly filed prospectus supplement allows the company to sell an additional $5 billion of shares through AGP/Alliance Global Partners.
The company reported selling approximately $720 million worth of shares under the previous agreement and may sell an additional $279 million worth. The $5 billion in sales under the new arrangement is expected to be used to support Ethereum investments.
SharpLink Gaming, headquartered in Minneapolis, offers performance-based marketing services primarily for its online betting and casino partners. The company, which has been pursuing a growth strategy integrated with the cryptocurrency-focused gaming market since early 2025, aims to reach a global gaming audience by integrating blockchain technologies into its marketing infrastructure.
*This is not investment advice.
