SharpLink has filed to boost its ongoing stock sale program from $1 billion to $6 billion, with proceeds going mainly into Ethereum.
Updated Stock Sale Program
SharpLink has decided to expand its stock sale program through an amended sales agreement with A.G.P., confirming that it will continue selling common stock directly to the public. As stated in its SEC filing, the company may execute up to $6 billion worth of common stock sales via Nasdaq and other markets.
Shift to Cryptocurrency
SharpLink has increased its investments in Ethereum, which now serves as the company’s main treasury reserve asset. Ether reached the price of $3,592, marking a significant moment for the company as it actively seeks ways to integrate cryptocurrency into its business processes.
SharpLink's Financial Performance
While revenue from SharpLink's affiliate marketing dropped by 26.1% year-on-year, the company has made substantial efforts to pivot its operations towards cryptocurrency and gaming. The financial numbers from the first quarter of 2025 continue to show declines, prompting the company to take proactive steps in cryptocurrency mining.
The expansion of the stock sale program and the focus on Ethereum indicate SharpLink's efforts to adapt to changing market conditions and explore new opportunities while its traditional business model faces challenges.
