SharpLink plans to sell an additional $5 billion worth of stock to increase its holdings in Ethereum

Golden Finance reported that SharpLink Gaming (NASDAQ: SBET), a Minnesota based company, has submitted an updated prospectus to the US Securities and Exchange Commission (SEC), planning to issue an additional $5 billion in common stock on top of the original $1 billion to further purchase Ethereum (ETH) for the company's treasury. As of July 16th, the company holds over 321000 ETH (approximately $1.1 billion), making it the largest Ethereum enterprise holder currently. This expansion action stems from a $425 million private equity financing led by Consensys in June, with Consensys CEO and Ethereum co-founder Joseph Lubin now serving as the chairman of SharpLink's board of directors.