SharpLink Gaming plans to raise $1 billion to purchase ETH SharpLink Gaming has submitted Form S-3 ASR to the US SEC, registering securities with a total size not exceeding $1 billion for future issuance of common stock subject to market conditions. After this issuance, the maximum number of common shares issued can reach 72051288 shares. The vast majority of the proceeds from this issuance will be used to purchase Ethereum (ETH), the native cryptocurrency of the Ethereum blockchain. It is also planned to use the proceeds from this issuance for working capital needs, general corporate purposes, operating expenses, and more. Previously, SharpLink Gaming announced that it will complete a private equity financing of approximately $425 million, with Consensys as the lead investor. The transaction is expected to be completed on May 29th. The financing funds will be used to purchase Ethereum (ETH) and establish ETH as the company's main reserve asset.