SharpLink Gaming (SBET) raised $75.6 million through an immediate equity offering, selling new shares at $17 and attaching a 90‑day premium purchase contract allowing further purchases at $17.50; the move represents a novel use of call‑style options in the digital asset treasury ecosystem.
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Raised $75.6M via equity issuance at $17 per share (12% premium)
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Includes a 90‑day premium purchase contract to buy additional shares at $17.50 (19% premium)
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SharpLink holds $3.4B in ETH versus BitMine’s $12.2B, per CoinGecko and on‑chain data
SharpLink Gaming raises $75.6M via equity at $17; learn how the 90‑day premium purchase contract works and what it means for digital asset treasuries — read more on COINOTAG.
By COINOTAG — Published: 2025-10-16. Updated: 2025-10-16
How did SharpLink Gaming secure $75.6 million in fresh capital?
SharpLink Gaming secured $75.6 million through an immediate equity issuance, selling new shares at $17 each, a roughly 12% premium to market. The financing also includes a 90‑day premium purchase contract permitting investors to acquire additional shares at $17.50 (a 19% premium), marking a novel instrument in the digital asset treasury (DAT) space.
What is the 90‑day premium purchase contract and why is it significant?
The 90‑day premium purchase contract functions like a short‑dated call option embedded in the equity financing. It gives participating investors the right to purchase additional shares at a preset price ($17.50) within 90 days. This structure transfers upside expectation to investors while providing immediate capital to the treasury. Market participants are treating the feature as a signal that investors expect near‑term appreciation.
Official figures reported by SharpLink indicate the initial issuance accounted for $75.6 million. On‑chain analytics and market aggregators such as CoinGecko provide context on treasury sizes: BitMine Technologies holds approximately $12.2 billion in ETH versus SharpLink’s $3.4 billion in ETH.
Frequently Asked Questions
How does this equity issuance affect SharpLink’s treasury strategy long term?
The equity issuance immediately strengthens SharpLink’s balance sheet by $75.6 million, increasing liquidity and capital available for treasury management. The attached purchase contract offers a predictable near‑term capitalization path while limiting dilution risk in the short window. This is a measured, non‑speculative financing move focused on operational flexibility.
Who are the major players mentioned and what are their positions?
BitMine Technologies, led by Tom Lee, is the largest Ethereum treasury firm with roughly $12.2 billion in ETH per CoinGecko and on‑chain analysis. SharpLink ranks second with about $3.4 billion in ETH. Investment manager Kerrisdale Capital has publicly stated a short position on BitMine’s BMNR token and questioned the sustainability of its model; these statements are documented in Kerrisdale Capital public releases and market commentaries.
Key Takeaways
- Immediate capital raise: SharpLink sold new shares at $17 each, raising $75.6M to bolster its treasury and operations.
- Innovative contract: The 90‑day premium purchase contract is a first in the DAT ecosystem and resembles a short‑dated call option, shifting upside expectations to investors.
- Relative scale: BitMine remains the dominant ETH treasury at ~$12.2B vs. SharpLink’s ~$3.4B, per CoinGecko and on‑chain data; this context matters for market positioning and comparative risk.
Conclusion
SharpLink Gaming’s $75.6 million equity raise, executed at a $17 share price and paired with a 90‑day premium purchase contract at $17.50, represents a conservative, market‑oriented financing approach that improves liquidity without capital markets speculation. The financing introduces a novel instrument to the digital asset treasury toolkit and will be monitored alongside on‑chain holdings and market data from CoinGecko and public filings. For coverage and updates, COINOTAG will track subsequent on‑chain movements and official company disclosures.
Author: COINOTAG | Published: 2025-10-16 | Updated: 2025-10-16
Sources consulted (plain text): CoinGecko, on‑chain analytics, Kerrisdale Capital public statement, company announcement from SharpLink Gaming, public filings attributed to BitMine Technologies and statements by Tom Lee.
