SharpLink Gaming, Inc. (SBET)

SharpLink Gaming's stock experienced significant volatility. In May 2025, the announcement of its pivot to an Ethereum treasury strategy led to a surge in its stock price. In June 2025, shares tumbled after the company filed an S-3 registration statement. In October 2025, SharpLink announced the pricing of a $76.5 million registered direct offering, and Bernstein initiated coverage with an "Outperform" recommendation. In November 2025, the company reported strong growth momentum in its third quarter financial results. As of November 25, 2025, the share price was $9.95.

SharpLink Gaming's primary revenue generation has shifted to strategic digital-asset treasury management, specifically the staking of Ethereum (ETH). The company's new core business of Ethereum staking is less subject to traditional "demand seasonality" in the same way physical products or seasonal services would be.

SharpLink Gaming, Inc. is a technology company focused on developing a treasury strategy centered on Ether (ETH). The company operates in two segments: Affiliate Marketing and Ethereum Staking. The Affiliate Marketing segment provides performance-based customer acquisition services, while the Ethereum Staking segment aims to capture ETH-based yield.

SharpLink Gaming, Inc. is headquartered in Minneapolis, Minnesota, United States. Its Affiliate Marketing segment provides services to regulated and global iGaming operator partners, indicating a global reach.

SharpLink Gaming's brand reputation has been shaped by its pivot to an Ethereum treasury strategy. The company's reputation faced challenges in June 2025, when a significant stock price drop occurred due to a misinterpretation of a standard S-3 filing. SharpLink launched a dynamic ETH dashboard to promote transparency and investor engagement.

SharpLink Gaming, Inc. has 143 institutional owners and shareholders holding a total of 66,957,920 shares. Major institutional shareholders include Fmr Llc, Susquehanna International Group, Llp, UBS Group AG, Citadel Advisors Llc, ParaFi Capital LP, BlackRock, Inc., and The Vanguard Group, Inc. Institutional ownership stands at 34.04% of total shares outstanding, while insider ownership is approximately 0.91%.