SharpLink Gaming to Make Major Ethereum Purchase Through Stock Offering

US-based sports betting company SharpLink Gaming is making a bold move, announcing a $1 billion stock offering designed to finance a significant purchase of Ethereum. The company aims to allocate the bulk of the proceeds towards acquiring ETH and establishing an Ethereum-focused treasury strategy. Following a successful private placement that raised $425 million by selling 69 million shares at $6.15 each, SharpLink is using this strategic capital to acquire ETH and implement an ETH-based financial plan. This announcement has sent the company’s stock soaring over 400%.