SharpLink Secures $425M to Build Ethereum Treasury
Deal News | Jun 02, 2025 | White Star Capital
SharpLink Gaming, a Minnesota-based affiliate marketing firm for online casino gaming operators, has secured a $425 million private placement led by Consensys Software, the developer of MetaMask. This significant financing will allow SharpLink to build one of the largest Ethereum treasuries in the public market. The funds will be used to acquire Ethereum as its primary reserve asset and to engage in activities such as staking and decentralized finance. The move coincides with a trend of publicly traded companies increasing their cryptocurrency holdings under a supportive crypto administration. In addition to Consensys, the investment round included participation from notable entities such as ParaFi Capital, Electric Capital, Pantera Capital, and White Star Capital, among others. Following the transaction, Consensys CEO Joseph Lubin joins SharpLink's board as chairman. SharpLink, which has a market cap of $34.8 million, aims to strengthen its affiliate marketing business and pioneer an Ethereum-based treasury strategy.
Sectors
- Cryptocurrency
- Affiliate Marketing
- Financial Services
Geography
- United States – SharpLink Gaming is based in Minnesota, USA, and is a publicly traded company on Nasdaq.
Industry
- Cryptocurrency – The article focuses on SharpLink's strategy to accumulate a large Ethereum treasury, a pertinent aspect of the cryptocurrency industry.
- Affiliate Marketing – SharpLink operates as an affiliate marketing firm specializing in the online casino and sportsbook sector.
- Financial Services – The transaction involves financial services related to asset management and private investment placements.
Financials
- $425 million – The amount raised by SharpLink in the private placement led by Consensys Software.
- $34.8 million – The market capitalization of SharpLink.
- $50.13 – The trading price of SharpLink's stock at the time of publication.
- $302.4 billion – Market capitalization of Ethereum as mentioned in the article.
- $2,505 – The trading price of Ether at the time of publication.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| SharpLink Gaming | Target | Company | A Minnesota-based affiliate marketing firm for online casino operators and sportsbook. |
| Consensys Software | Investor | Company | A crypto infrastructure firm that led SharpLink's private placement and is known for developing MetaMask. |
| White Star Capital | Investor | Company | A private equity firm that participated in the $425 million private placement for SharpLink. |
| Joseph Lubin | Chairman of SharpLink's Board | Person | CEO of Consensys Software and co-founder of Ethereum, joining SharpLink's board as chairman. |
| ParaFi Capital | Investor | Company | A participant in the private placement and an asset management firm advising SharpLink. |
| Galaxy Asset Management | Asset Manager | Company | Involved in overseeing SharpLink's Ethereum treasury strategy. |
| Rob Phythian | CEO of SharpLink | Person | Chief Executive Officer of SharpLink, articulating the strategy behind the Ethereum treasury. |
| Robert DeLucia | CFO of SharpLink | Person | Chief Financial Officer of SharpLink and contributor to the private placement. |