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SharpLink Gaming (SBET) Ends 5-Day Run on Planned $400-Million Share Sale

We recently published 10 Stocks Collapse Overnight. SharpLink Gaming, Inc. (NASDAQ:SBET) is one of the best-performing stocks on Monday.

SharpLink Gaming snapped a five-day winning streak on Monday, shedding 6.63 percent to finish at $22.33 apiece as investors soured on news that it raised $400 million from a series of share purchase agreements.

In a statement, SharpLink Gaming, Inc. (NASDAQ:SBET) said it entered into share purchase agreements with five global institutional investors for the sale of securities at a price of $21.76 apiece. With some $400 million total proceeds expected to be raised, this means that the company is set to issue more than 18.3 million shares. The offer is expected to be completed on Tuesday, August 12.

The offering was said to be part of a shelf registration statement approved by the Securities and Exchange Commission on May 30, 2025.

SharpLink Gaming, Inc.’s (NASDAQ:SBET) share sale was in line with expectations of growing its Ethereum holdings to $3 billion.

At present, SharpLink Gaming, Inc. (NASDAQ:SBET) holds 598,800 units of ETH, while approximately $200 million worth of proceeds from its recent at-the-market offering have yet to be deployed.

“Raising nearly $900 million in capital over the past week underscores the market’s confidence in SharpLink’s ETH treasury strategy. The speed and scale of these investments reflect not only investor trust in SharpLink, but also the growing recognition of Ethereum’s transformative potential,” said SharpLink Gaming, Inc. (NASDAQ:SBET) co-CEO Joseph Chalom.

While we acknowledge the risk and potential of SBET as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SBET and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

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