SharpLink plans to sell another $5 billion in shares to increase its Ethereum holdings

Odaily News SharpLink Gaming (NASDAQ: SBET), a Minnesota company, has submitted an updated prospectus to the U.S. Securities and Exchange Commission (SEC), planning to issue an additional $5 billion in common stock on top of the original $1 billion to further purchase Ethereum (ETH) for the company's treasury. As of July 16, the company already holds more than 321,000 ETH (about $1.1 billion), making it the largest corporate holder of Ethereum. The expansion follows a $425 million private placement led by Consensys in June, where Consensys CEO and Ethereum co-founder Joseph Lubin now serves as chairman of SharpLink's board of directors.