PANews reported on May 31 that SharpLink Gaming submitted Form S-3 ASR to the U.S. SEC, registering securities with a total size of no more than $1 billion for the future issuance of common stock depending on market conditions. After this issuance, the number of common shares issued can reach up to 72,051,288 shares. Most of the proceeds from this issuance will be used to purchase Ethereum blockchain's native cryptocurrency Ether (ETH), and it is also planned to use the proceeds from this issuance for working capital needs, general corporate purposes, operating expenses, etc.

Earlier news , SharpLink Gaming announced that it would complete a private placement financing of approximately US$425 million, with Consensys as the lead investor, and the transaction is expected to be completed on May 29. The financing funds will be used to purchase Ethereum (ETH) and establish ETH as the company's main reserve asset.