MIAMI, June 30, 2026 (GLOBE NEWSWIRE) -- Sharplink, Inc. (Nasdaq: SBET) ("Sharplink" or the "Company"), one of the world's largest corporate holders of Ether ("ETH") and a prominent industry advocate of Ethereum adoption, today announced the purchase of 10,000 ETH at an average price of $1,611 per ETH, bringing total ETH holdings1 to 886,725. The Company also announced the repurchase of 2,132,773 shares of its common stock in the open market at an average purchase price of $4.69 per share in connection with its ongoing stock buyback program.
Key Company Highlights for the Week Ending June 28, 2026
Raised $75 million via a registered direct offering of common stock and warrants.Bought 10,000 ETH at an average price of approximately $1,611 per ETH.Total ETH holdings1 increased to 886,725.Repurchased 2,132,773 shares of common stock, bringing total to 4,071,223 shares repurchased since initiating its buyback program in August 2025. The Company's ETH purchases reflect its continued commitment to growing its ETH treasury as a long-term reserve asset. Separately, pursuant to its ongoing stock buyback program, Sharplink has repurchased its common stock, which it believes is significantly undervalued.
"The successful completion of our $75 million registered direct offering last week has strengthened our balance sheet and provided the capital to support our active ETH treasury management strategy. Our capital allocation philosophy is disciplined and straightforward: every financing decision we make is based on our long-term objective to increase ETH per share,” stated Joseph Chalom, CEO of Sharplink.
1 Total ETH holdings held as of June 28, 2026, were comprised of 632,719 native ETH, 181,299 ETH as-if redeemed from LsETH and 72,707 ETH as-if redeemed from weETH.
About Sharplink, Inc.
Sharplink is a leading institutional-grade Ethereum treasury platform designed to give public market investors smarter, more productive exposure to ETH. Ethereum underpins the majority of global stablecoin, tokenized real-world assets and decentralized finance settlement. Sharplink was founded in 2019 and is headquartered in Miami, Florida. Learn more at www.sharplink.com.
Forward-Looking Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and these forward-looking statements are subject to various risks and uncertainties. Such statements include, but are not limited to, goals and expectations regarding the Company’s strategy and potential partnerships, and other statements accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words, but the absence of these words does not mean that a statement is not forward-looking. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the intended use of proceeds from our recent Offering; the potential use of the Company’s ATM facility; the Company’s ability to repurchase additional shares of its common stock under its stock repurchase program; the Company’s ability to achieve and sustain profitable operations; volatility in the market price of ETH and its resulting impact on the Company’s accounting and financial reporting; changes in government regulation of cryptocurrencies and online betting; changes in securities laws or other applicable regulations; fluctuations in customer demand and overall economic conditions; competitive pressures, including competing products, pricing, and sales cycles; the protection and enforcement of the Company’s proprietary rights; and other risks and uncertainties described in the Company’s Annual Report and other filings with the SEC. Under U.S. generally accepted accounting principles, entities are generally required to measure certain crypto assets at fair value, with changes reflected in net income each reporting period. Changes in the fair value of crypto assets could result in significant fluctuations to the balance sheet and income statement results. Additionally, for other certain types of crypto assets, the Company uses the historical costs less impairment model. This model may require the Company to record an associated impairment charge reflected in net income as a result of a decrease in the market price of the crypto assets below the cost value at which the Company’s crypto assets are carried on its balance sheet. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company does not undertake any responsibility to update the forward-looking statements in this press release.
CONTACT:
Sharplink’s Investor Relations Contact:
Sean Mansouri, CFA or Aaron D’Souza | Elevate IR
Phone: (720) 330-2829
Email: [email protected]
MIAMI, June 22, 2026 (GLOBE NEWSWIRE) -- Sharplink, Inc. (Nasdaq: SBET) ("Sharplink" or the "Company"), one of the world's largest corporate holders of Ether ("ETH") and a prominent industry advocate of Ethereum adoption, today announced that it has entered into a securities purchase agreement with an institutional investor (the “Investor”) for the purchase and sale of 10,013,351 shares of its common stock, par value $0.0001 per share (the “Shares), and accompanying warrants to purchase up to 10,013,351 shares of common stock (the “Warrants”), at a combined purchase price of $7.49 per Share and Warrant. The purchase price represents a 41% premium to the Company’s closing share price of $5.29 on June 18, 2026 (the “Closing Share Price”), as reported on the Nasdaq Capital Market, and a premium to the net asset value (“NAV”) of Sharplink’s ETH holdings1 reported as of June 16, 2026 of 875,776 ETH. The Warrants will have an exercise price of $8.15 per Share, will be exercisable immediately upon issuance, and will expire four (4) years from the date of issuance.
The aggregate gross proceeds from the registered direct offering (the “Offering”) are expected to be approximately $75 million, before deducting placement agent fees and other offering expenses payable by the Company. The closing of the Offering is expected to occur on or about Tuesday, June 23, 2026, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes, including, but not limited to, the accumulation of additional ETH and the repurchase of the Company’s common stock pursuant to the Company’s stock repurchase program.
Commenting on the transaction, Joseph Chalom, Sharplink’s Chief Executive Officer, stated, “This financing represents a powerful endorsement of Sharplink’s Ethereum treasury strategy. The fact that we raised capital at a premium to both our prevailing market price and the value of our underlying ETH holdings demonstrates that sophisticated investors recognize the unique value proposition we are building. Moreover, it is becoming evident that public market investors are increasingly seeking more than passive ETH exposure. They are looking for platforms capable of compounding ETH ownership and share value over time through active capital allocation, strategic treasury management and access to opportunities unavailable to most market participants.
“By issuing equity above the value of our existing ETH holdings, this transaction is immediately supportive of our objective to increase ETH exposure on an accretive per-share basis while preserving financial flexibility. The proceeds from this offering enhance our ability to expand our Ethereum treasury, opportunistically repurchase shares and continue executing on our mission to build the leading institutional-grade, most productive Ethereum treasury platform in the public markets.”
The Offering is being made pursuant to an effective shelf registration statement on Form S-3ASR (File No. 333-287708), which was automatically declared effective by the U.S. Securities and Exchange Commission (“SEC”) on May 30, 2025. The Offering is being made only by means of a prospectus supplement and accompanying prospectus that form a part of the effective shelf registration statement. A prospectus supplement and the accompanying prospectus relating to the Offering will be filed by the Company with the SEC. When available, copies of the prospectus supplement relating to the Offering, together with the accompanying prospectus, can be obtained at the SEC’s website at www.sec.gov or by contacting A.G.P./Alliance Capital Partners, 590 Madison Avenue, New York, New York 10022.
A.G.P./Alliance Global Partners is acting as the sole placement agent for the Offering.
Thompson Hine LLP is acting as legal advisor to Sharplink. Sullivan & Worcester LLP is acting as legal advisor to A.G.P./Alliance Global Partners.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
1 Total ETH holdings represent ETH as-if redeemed from LsETH and WeETH.
About Sharplink, Inc.
Sharplink is a leading institutional-grade Ethereum treasury platform designed to give public market investors smarter, more productive exposure to ETH. Ethereum underpins the majority of global stablecoin, tokenized real-world assets and decentralized finance settlement, making ETH a unique native yield generation and long-term network growth opportunity. In addition to its Ethereum treasury platform, Sharplink operates an online affiliate marketing business. Sharplink was founded in 2019 and is headquartered in Miami, Florida. Learn more at www.sharplink.com.
Forward-Looking Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and these forward-looking statements are subject to various risks and uncertainties. Such statements include, but are not limited to, goals and expectations regarding the Company’s strategy and potential partnerships; the intended use of proceeds, including potential share repurchases; the Company’s Ethereum treasury strategy and expected common stock per-share effects; and other statements accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words, but the absence of these words does not mean that a statement is not forward-looking. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the anticipated gross proceeds from the Offering, the intended use of proceeds therefrom, the satisfaction of customary closing conditions, and the expected timing and completion of the Offering, the potential use of the Company’s ATM facility; the Company’s ability to repurchase additional shares of its common stock under its stock repurchase program; the Company’s ability to achieve and sustain profitable operations; volatility in the market price of ETH and its resulting impact on the Company’s accounting and financial reporting; changes in government regulation of cryptocurrencies and online betting; changes in securities laws or other applicable regulations; fluctuations in customer demand and overall economic conditions; competitive pressures, including competing products, pricing, and sales cycles; the protection and enforcement of the Company’s proprietary rights; and other risks and uncertainties described in the Company’s Annual Report and other filings with the SEC. Under U.S. generally accepted accounting principles, entities are generally required to measure certain crypto assets at fair value, with changes reflected in net income each reporting period. Changes in the fair value of crypto assets could result in significant fluctuations to the balance sheet and income statement results. Additionally, for other certain types of crypto assets, the Company uses the historical costs less impairment model. This model may require the Company to record an associated impairment charge reflected in net income as a result of a decrease in the market price of the crypto assets below the cost value at which the Company’s crypto assets are carried on its balance sheet. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company does not undertake any responsibility to update the forward-looking statements in this press release. There can be no assurance that any repurchases will be made under the program, and any repurchases may be suspended, modified or discontinued at any time and are subject to market conditions and applicable legal requirements.
CONTACT:
Sharplink’s Investor Relations Contact:
Sean Mansouri, CFA or Aaron D’Souza | Elevate IR
Phone: (720) 330-2829
Email: [email protected]
Obie Mckenzie, Director at Sharplink (SBET +1.47%), reported the direct sale of 12,892 shares for a transaction value of ~$96,000 on May 12, 2026, according to a SEC Form 4 filing.
Transaction summaryMetricValueShares sold (direct)12,892Transaction value~$96,000Post-transaction shares (direct)24,998Post-transaction value (direct ownership)~$179,000Transaction value based on SEC Form 4 weighted average purchase price ($7.41).
Key questionsHow does this transaction impact Mckenzie’s ownership in Sharplink?
The sale represents a 34.02% reduction in direct holdings, with Mckenzie retaining 24,998 shares directly and no indirect or derivative positions as of May 12, 2026.Was there any indirect or derivative activity associated with this trade?
All shares sold were held directly by Mckenzie; there were no indirect entities involved and no stock options or other derivative securities exercised or disposed.What is the historical context of this sale relative to prior transactions?
This filing marks Mckenzie's second open market sale in nine months, following a direct sale of 18,334 shares in August 2025, suggesting a recurring pattern of trimming director grants back to a consistent floor of roughly 25,000 shares.What does the transaction value signal about the market environment for Sharplink?
The shares were sold at around $7.41 per share, above the post-transaction close of $7.17 on May 12, 2026, during a period when the stock had delivered a 116.6% one-year total return as of the trade date.Company overviewMetricValueRevenue (TTM)$39.4 millionNet income (TTM)($1.4 billion)Price (as of market close June 12, 2026)$5.51* 1-year performance is calculated using June 12, 2026 as the reference date.
Company snapshotSharplink operates an institutional-grade Ethereum treasury platform and provides affiliate marketing services for sportsbook and online casino gaming operators.The company generates revenue through ETH treasury management, including staking and risk-managed custody, as well as performance-based customer acquisition for gaming clients.Primary customers include licensed gaming operators in the U.S. and internationally, as well as institutional clients seeking ETH treasury solutions.Sharplink leverages its dual-segment strategy to address both the digital asset management and gaming affiliate marketing sectors. The company’s ETH treasury management platform is designed for institutional clients, providing staking and governance solutions within a robust risk management framework. Its affiliate marketing network supports gaming operators by driving user acquisition and engagement, positioning Sharplink as a diversified player in digital finance and online gaming services.
What this transaction means for investorsSharplink is essentially a bet on Ethereum. The gaming affiliate business is still there, but the company's identity — and nearly all of its Q1 2026 revenue — now runs through its ETH treasury and staking operations. That pivot is working on the top line: revenue jumped to $12.1 million in Q1 2026 from $0.7 million a year earlier, driven by ETH staking. The bull case is straightforward — Sharplink is accumulating ETH, generating yield on it, and expanding into DeFi through a new Galaxy Digital partnership. If you believe Ethereum has a durable role in institutional finance, the accumulation strategy makes sense. The bear case is just as clear: the company posted a net loss of $685.6 million in Q1, largely from a $506.7 million unrealized loss on crypto assets and a $191.7 million impairment on liquid staking tokens. Those are non-cash GAAP charges, not ETH leaving the treasury, but they signal how much volatility investors are absorbing. McKenzie's sale is a one-paragraph footnote to all of this — a director trimming a comp grant after a strong run. The real question is whether you want ETH exposure through a corporate treasury wrapper, with the added operational and accounting complexity that comes with it, or whether you'd rather own ETH directly. If you're still building your view on the space, check out our article on how to build a crypto portfolio.
Seena Hassouna has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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Sharplink Gaming Inc. (NASDAQ: SBET - Get Free Report) has received an average recommendation of "Moderate Buy" from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the
SharpLink Gaming (NASDAQ:SBET) stock earned a fresh Buy rating from TD Cowen on Friday, initiating coverage with a bullish thesis on the company’s positioning at the intersection of sports betting affiliate marketing and institutional crypto treasury management. No price target accompanied the initiation. For investors watching the digital assets space, it’s a signal worth understanding before dismissing this as too speculative.
SharpLink stock is down 28% year-to-date, trading at $6.47 against a 52-week high of $124.12. That’s a wide gap, and TD Cowen’s initiation arrives while the stock sits well below its moving averages.
Ticker Company Firm Action Old Rating New Rating Old Target New Target SBET SharpLink Gaming TD Cowen Initiation N/A Buy N/A Not provided The Analyst’s Case TD Cowen’s Buy reflects confidence in SharpLink’s dual identity: a sports betting affiliate marketing platform with deep crypto integration. The company operates the PAS.net affiliate network connecting bettors to licensed sportsbooks while running one of the largest corporate Ethereum treasury programs in the world. That combination is rare, and TD Cowen views it as a structural advantage.
The online gambling market provides compelling growth backdrop. Regulatory expansion of sports betting across North America continues to open new addressable markets, and SharpLink’s affiliate model captures user acquisition fees as that expansion plays out.
Company Snapshot SharpLink completed its pivot to an institutional-grade Ethereum (CRYPTO:ETH) treasury platform in 2025, accumulating 868,699 total ETH and becoming the world’s second-largest publicly traded holder of Ethereum as of March 6. The company generated 14,516 ETH in total staking rewards since the strategy launched in June 2025, with ETH per share doubling from 2 to 4.01.
SharpLink CEO Joseph Chalom is a 20-year BlackRock (NYSE:BLK | BLK Price Prediction) veteran, and Ethereum co-founder Joseph Lubin serves as Chairman of the Board. Institutional ownership has surged from roughly 6% to 46% over the course of 2025.
Why the Move Matters Now TD Cowen’s initiation joins a growing chorus of bullish analyst voices. Canaccord Genuity initiated coverage of SharpLink stock with a Buy rating and a $16 price target in January, while Cantor Fitzgerald upgraded to a Strong-Buy rating in January. The consensus analyst target now sits at $17.79 across six analysts, all of whom carry Buy-equivalent ratings.
That said, SharpLink carries a beta of 11.76, making it one of the most volatile stocks in the market. The company posted a full-year 2025 net loss of $734.6 million, driven largely by a $616.2 million unrealized ETH markdown and a $140.2 million LsETH impairment charge, both non-cash GAAP items.
What It Means for Your Portfolio TD Cowen’s Buy adds institutional credibility to a thesis that already has several believers on Wall Street. Consider SharpLink stock if you believe institutional Ethereum adoption is durable and the affiliate sports betting model provides a real revenue floor beneath the crypto treasury strategy.
The risks here are real: SharpLink carries a small market cap, faces regulatory uncertainty around both crypto and online gambling, and its stock has shown extreme price swings in both directions. Watch for whether ETH price stabilizes and whether staking revenue continues to grow sequentially before sizing any position.
Digital Asset Treasuries (DATs) like MSTR, DFDV, and SBET offer levered crypto exposure with less risk via C-corp structures and flexible financing. DFDV (Solana) and SBET (Ethereum) are preferred over MSTR (Bitcoin) due to their ability to generate yield through staking and operational treasury management. Both DFDV and SBET currently trade at discounts to mNAV, signaling undervaluation, but face dilution risk if issuing new equity below NAV.
Sharplink Gaming Inc. (NASDAQ:SBET – Get Free Report) has earned an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $22.1111.
Several analysts have issued reports on SBET shares. B. Riley Financial reduced their price target on shares of Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $16.00 price target on shares of Sharplink Gaming in a report on Tuesday, March 17th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sharplink Gaming in a report on Thursday, January 22nd. Citizens Jmp reduced their price objective on shares of Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating on the stock in a research note on Wednesday, March 11th. Finally, iA Financial set a $20.00 price objective on shares of Sharplink Gaming in a research note on Wednesday, January 7th.
Check Out Our Latest Report on SBET
Sharplink Gaming Price Performance Shares of NASDAQ SBET opened at $7.74 on Tuesday. Sharplink Gaming has a 12-month low of $2.26 and a 12-month high of $124.12. The company has a market capitalization of $1.53 billion, a PE ratio of -3.24 and a beta of 11.31. The firm’s 50-day moving average is $7.02 and its two-hundred day moving average is $9.97.
Sharplink Gaming (NASDAQ:SBET – Get Free Report) last announced its quarterly earnings results on Friday, March 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.11. Sharplink Gaming had a negative net margin of 2,618.38% and a negative return on equity of 50.72%. The company had revenue of $13.31 million for the quarter, compared to the consensus estimate of $17.19 million.
Hedge Funds Weigh In On Sharplink Gaming Institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Sharplink Gaming during the third quarter valued at approximately $49,000. Empowered Funds LLC purchased a new position in shares of Sharplink Gaming during the fourth quarter valued at approximately $56,000. R Squared Ltd purchased a new position in shares of Sharplink Gaming during the fourth quarter valued at approximately $90,000. Abacus Planning Group Inc. purchased a new position in shares of Sharplink Gaming during the fourth quarter valued at approximately $94,000. Finally, CI Investments Inc. purchased a new position in shares of Sharplink Gaming during the fourth quarter valued at approximately $100,000. Hedge funds and other institutional investors own 13.75% of the company’s stock.
Sharplink Gaming Company Profile (Get Free Report)
SharpLink Gaming, Inc operates as an online technology company that connects sports fans, leagues, and sports websites to sports betting and iGaming content. The company operates through four segments: Affiliate Marketing Services United States, Affiliate Marketing Services International, Sports Gaming Client Services, and SportsHub Games Network. It operates a performance marketing platform, which owns and operates state-specific web domains to attract, acquire, and drive local sports betting and casino traffic directly to the company's sportsbook and casino partners, which are licensed to operate in each respective state; and offers sports betting data to sports media publishers.
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MIAMI, FL, April 28, 2026 (GLOBE NEWSWIRE) -- Sharplink, Inc. (Nasdaq: SBET) (“Sharplink” or the “Company”), one of the world’s largest corporate holders of Ether (“ETH”) and prominent industry advocate of Ethereum adoption, today announced that the Company will host a conference call on Monday, May 11, 2026 at 8:30 A.M. Eastern Time to discuss its financial and operating results for the three months ended March 31, 2026. The Company will release its financial results in a press release prior to the call.
Sharplink’s executive team will host the conference call, followed by a question-and-answer period. The conference call details are as follows:
Date: Monday, May 11, 2026
Time: 8:30 A.M. Eastern Time
Toll-free dial-in number: (877) 407-2988
International dial-in number: (201) 389-0923
Webcast: Sharplink's Q1 2026 Earnings Call
Participants can also access the Company’s earnings call using the call me option here for instant telephone access to the event, which will be active 15 minutes before the scheduled start time.
A telephonic replay will be available approximately three hours after the conference call concludes through Monday, May 25, 2026.
A link to the live webcast and replay will also be available at https://investors.sharplink.com. The Company encourages all participants to register at least 15 minutes prior to the 8:30 A.M. ET start time. If you have any difficulty registering or connecting with the conference call, please contact Elevate IR at (720) 330-2829.
About Sharplink, Inc.
Sharplink is a leading institutional-grade Ethereum treasury platform designed to give public market investors smarter, more productive exposure to ETH. Ethereum underpins the majority of global stablecoin, tokenized real-world assets and decentralized finance settlement, making ETH a unique native yield generation and long-term network growth opportunity. In addition to its Ethereum treasury platform, Sharplink operates an online affiliate marketing business. Sharplink was founded in 2019 and is headquartered in Miami, Florida. Learn more at www.sharplink.com.
Forward-Looking Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and these forward-looking statements are subject to various risks and uncertainties. Such statements include, but are not limited to, goals and expectations regarding the Company’s strategy and potential partnerships, and other statements accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words, but the absence of these words does not mean that a statement is not forward-looking. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to repurchase additional shares of Sharplink’s common stock through its stock repurchase program, potential use of the Company’s ATM facility, the Company’s ability to achieve profitable operations, fluctuations in the market price of ETH that will impact the Company’s accounting and financial reporting (see accounting rules discussed below), government regulation of cryptocurrencies and online betting, changes in securities laws or regulations, customer acceptance of new products and services, the demand for its products and its customers’ economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company, changes in applicable laws or regulations, and its competitors, general economic conditions and other risk factors detailed in the Company’s annual report and other filings with the SEC. Under U.S. generally accepted accounting principles, entities are generally required to measure certain crypto assets at fair value, with changes reflected in net income each reporting period. Changes in the fair value of crypto assets could result in significant fluctuations to the balance sheet and income statement results. Additionally, for other certain types of crypto assets, the Company uses the historical costs less impairment model. This model may require the Company to record an associated impairment charge reflected in net income as a result of a decrease in the market price of the crypto assets below the cost value at which the Company’s crypto assets are carried on its balance sheet. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company does not undertake any responsibility to update the forward-looking statements in this press release.
CONTACT:
Sharplink’s Investor Relations Contact:
Sean Mansouri, CFA or Aaron D’Souza | Elevate IR
Phone: (720) 330-2829
Email: [email protected]
Sharplink Inc (SBET - Free Report) closed the last trading session at $7.2, gaining 16.3% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $17.69 indicates a 145.7% upside potential.
The mean estimate comprises eight short-term price targets with a standard deviation of $10.09. While the lowest estimate of $10.00 indicates a 38.9% increase from the current price level, the most optimistic analyst expects the stock to surge 455.6% to reach $40.00. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice.
However, an impressive consensus price target is not the only factor that indicates a potential upside in SBET. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.
Price, Consensus and EPS Surprise
Here's What You May Not Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Why SBET Could Witness a Solid UpsideAnalysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The Zacks Consensus Estimate for the current year has increased 1100% over the past month, as one estimate has gone higher compared to no negative revision.
Moreover, SBET currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Therefore, while the consensus price target may not be a reliable indicator of how much SBET could gain, the direction of price movement it implies does appear to be a good guide.
Proposed partnership designed to make Sharplink's Ethereum treasury even more productive in institutional onchain yield fund managed by Galaxy
, /PRNewswire/ - Galaxy Digital Inc. (Nasdaq: GLXY) and Sharplink Inc. (Nasdaq: SBET) today announced their entry into a non-binding memorandum of understanding, subject to definitive documentation, regarding the formation of the Galaxy Sharplink Onchain Yield Fund, LP, (the "Fund"), a private investment vehicle that will deploy capital across decentralized finance liquidity protocols and other onchain yield-generating strategies. Galaxy will serve as investment manager.
Sharplink Inc. logo (CNW Group/Galaxy Digital Inc.) The Fund, planned to launch in the coming weeks, will receive commitments totaling $125 million, consisting of $100 million from Sharplink's staked Ethereum treasury and $25 million from Galaxy.
The Fund will pursue a strategy designed to capture high-yielding opportunities in blockchain-based financial markets by allocating to promising applications. The structure is built to allow Sharplink to preserve its core Ethereum exposure while putting balance-sheet capital to productive use — extending the role of digital asset treasuries beyond passive holding and into actively managed onchain strategies.
Protocol selection, exposure sizing, and ongoing monitoring are governed by Galaxy's institutional research and risk management framework — the same discipline applied across the firm's lending, trading, and asset management businesses, and a defining feature of how Galaxy has operated onchain across multiple market cycles. Galaxy has been actively deploying hundreds of millions of dollars of capital onchain since 2020 and is among the largest publicly traded companies actively allocating to onchain strategies today.
"Institutional capital is moving onchain, and the infrastructure to support it has matured to a point where allocators can access yield, liquidity, and risk management with the same rigor they expect in traditional markets," said Mike Novogratz, Founder and CEO of Galaxy. "Sharplink has built one of the most significant Ethereum treasuries among public companies, and we're proud to partner with them to put that capital to work in a strategy designed to compound their core position."
Sharplink CEO Joseph Chalom said, "Sharplink's strategy has always been to make our ETH maximally productive while upholding the highest standard of risk management. This fund is the clearest expression of that conviction. By partnering with Galaxy to deploy a portion of our staked Ethereum treasury into institutional onchain yield strategies, we aim to compound our treasury while contributing to the deepening of the onchain financial ecosystem. Galaxy's institutional infrastructure and Sharplink's treasury scale are a natural fit. This partnership will prove to be a direct demonstration of what it looks like when public company capital meets onchain finance with discipline and institutional standards."
"The structure of this fund reflects Sharplink's ideal framework for active capital allocation," added Matthew Sheffield, Sharplink's Chief Investment Officer. "We aim to preserve our core staked Ethereum exposure while generating excess returns that accrues back to our shareholders. Galaxy's research, investment diligence and risk management infrastructure demonstrated a rigorous commitment to the institutional standards Sharplink embodies. This marks an extension of our treasury strategy into more active strategies, aimed at providing sustainable term structures to great projects. Generating yield while aiming to be a positive force in the ecosystem continues to be our goal."
About Galaxy
Galaxy Digital Inc. (Nasdaq: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we develop and operate cutting-edge data center infrastructure to power AI and HPC workloads. Our 1.6 GW Helios campus in Texas positions Galaxy among the largest and fastest-growing data center developers in North America. The Company is headquartered in New York City, with offices across North America, Europe, the Middle East, and Asia. Additional information about Galaxy's businesses and products is available on www.galaxy.com.
About Sharplink
Sharplink is a leading institutional-grade Ethereum treasury platform designed to give public market investors smarter, more productive exposure to ETH. Ethereum underpins the majority of global stablecoin, tokenized real-world assets and decentralized finance settlement, making ETH a unique native yield generation and long-term network growth opportunity. In addition to its Ethereum treasury platform, Sharplink operates an online affiliate marketing business. Sharplink was founded in 2019 and is headquartered in Miami, Florida. Learn more at www.sharplink.com.
CAUTION ABOUT FORWARD-LOOKING STATEMENTS
The information in this document may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended and "forward-looking information" under Canadian securities laws (collectively, "forward-looking statements"). Our forward-looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies regarding the future, including with respect to the formation, launch, investment strategy, expected returns and operation of the Fund. Statements that are not historical facts, including statements about the Fund, its anticipated investment strategy, expected commitments, targeted yield opportunities, and onchain business, are forward-looking statements. In addition, any statements that refer to estimates, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "aim," "anticipate," "believe," "continue," "could," "design," "estimate," "expect," "forecast," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "seek" "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this document are based on our current expectations and beliefs concerning future developments and their potential effects on us taking into account information currently available to us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks include, but are not limited to: (1) risks related to our blockchain infrastructure and staking business; (2) any delay or failure in successfully integrating the acquired company; (3) changes in applicable laws or regulations, including laws and regulations applicable to digital assets, decentralized finance protocols, staking, and onchain yield strategies; (4) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (5) changes or events that impact the cryptocurrency and AI/HPC industry, including potential regulation, that are out of our control; (6) the risk that our business will not grow in line with our expectations or continue on its current trajectory; (7) the possibility that our addressable market is smaller than we have anticipated and/or that we may not gain share of it; (8) any delay or failure to consummate the business mandates or achieve its business pipeline goals; (9) liquidity or economic conditions impacting our business; (10) technological challenges, cyber incidents or exploits; (11) risks related to the formation, launch and operation of the Fund, including the risk that the Fund ma not launch on the anticipated timeline or at all, that commitments may not be funded, that the Fund may not achieve its investment objectives, and that the Fund's strategies may result in losses; (12) risks related to decentralized finance protocols, including smart contract vulnerabilities, protocol failures, liquidity risks, impermanent loss, governance risks, regulatory uncertainty, and the potential for total loss of capital deployed onchain; (13) risks related to the volatility of digital asset prices, including Ethereum, which may materially and adversely affect the value of the Fund's holdings and Sharplink's treasury; (14) counterparty, custodial, and operational risks associated with onchain transactions and decentralized finance protocols; and (15) those other risks contained in filings we make with the Securities and Exchange Commission (the "SEC") from time to time, including in our Quarterly Report on Form 10-Q, available at www.sec.gov. Factors that could cause actual results to differ materially from those described in such forward-looking statements include, but are not limited to, a decline in the digital asset market or general economic conditions; a delay or failure in developing infrastructure for our business or our businesses achieving our mandates; delays in integration of the acquired business; changes in applicable law or regulation and adverse regulatory developments; smart contract exploits or failures in decentralized finance protocols in which the Fund invests; and changes in the price of Ethereum or other digital assets that materially affect the value of Sharplink's treasury or the Fund's holdings. Should one or more of these risks or uncertainties materialize, they could cause our actual results to differ materially from the forward-looking statements. Except as required by law, we assume no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements. You should not take any statement regarding past trends or activities as a representation that the trends or activities will continue in the future. Accordingly, you should not put undue reliance on these statements.
Total Staking Rewards Since Inception Increase to 18,800 ETH as of May 4, 2026
Continues to Expand ETH Productivity Through Active Treasury
Management and Onchain Deployments
MIAMI, FL, May 11, 2026 (GLOBE NEWSWIRE) -- Sharplink, Inc. (Nasdaq: SBET) (“Sharplink” or the “Company”), one of the world’s largest corporate holders of Ether (“ETH”) and prominent industry advocate of Ethereum adoption, today reported financial and operating results for the three months ended March 31, 2026.
“Generating risk-adjusted, ETH-denominated returns through active treasury management is the foundation of everything we do at Sharplink,” said Joseph Chalom, Chief Executive Officer of Sharplink. “During the quarter, we deployed our ETH capital with discipline, internalized the majority of our asset management platform, and have moved beyond foundational staking into a broader set of onchain opportunities. With a growing permanent capital base and a comprehensive risk-management framework, we have built a platform designed to provide shareholder value across market cycles.”
“We were incredibly excited to announce plans to launch the Galaxy Sharplink Onchain Yield Fund. Through our partnership with Galaxy Digital, we are deploying ETH capital through institutional-grade strategies to provide long-term liquidity to high-quality protocols while generating returns for our shareholders. This is just one important example of a robust pipeline of ETH productivity opportunities,” added Chalom.
First Quarter 2026 Highlights
Income Statement and Balance Sheet
Total revenue increased materially to $12.1 million in Q1 2026, compared to $0.7 million for the three months ended March 31, 2025. The increase was primarily driven by the continued success of Sharplink’s actively managed ETH treasury strategy, which was launched on June 2, 2025.SG&A expenses were $9.9 million for the three months ended March 31, 2026, compared to $1.1 million in the prior year’s first quarter. The increase was primarily due to expenditures for investments in infrastructure, talent and systems required to scale and actively manage Sharplink’s institutional-grade ETH treasury platform.Net loss was $685.6 million in Q1 2026, compared to $1.0 million for the three months ended March 31, 2025. The increase in net loss was primarily driven by non-cash unrealized losses and impairments offset by net realized gains. Unrealized loss: $506.7 million due to ETH market conditions in the first quarter of 2026.LsETH impairment charge: $191.7 million.Net realized gain: $12.0 million from ETH-to-LsETH conversions and redemptions and incentives and rebates.Unrealized losses and impairment charges reflect US GAAP accounting treatment and do not represent realized economic losses on ETH holdings nor reduce the number of ETH held by the Company. Cash and cash equivalents totaled $16.9 million as of March 31, 2026, compared to $28.5 million as of December 31, 2025. Joseph Lubin, Sharplink Chairman, Founder and CEO of Consensys and Co-Founder of Ethereum, noted, “What we are witnessing is the continued maturation of Ethereum into a programmable financial infrastructure, powering a new class of global markets built on transparency, composability and trust minimization. Institutional adoption continues to accelerate as leading financial organizations build directly on Ethereum across stablecoins, tokenized assets and decentralized finance, reinforcing its position as the dominant settlement layer for onchain economic activity. With ongoing advancements across Layer 2 scalability, security and network resilience, Ethereum is evolving into a high-performance coordination layer for a rapidly expanding digital economy. We believe Sharplink is uniquely positioned to translate that growth into long-term shareholder value.”
Ethereum Treasury and Operational Highlights
The Company’s ETH holdings totaled approximately 870,821 ETH1 as of March 31, 2026, increasing to 872,984 ETH2 as of May 4, 2026.Crypto assets totaled approximately $1.7 billion as of March 31, 2026 valued on a U.S. GAAP basis.ETH per share (“ETH Concentration”)3 has more than doubled since the inception of Sharplink’s Ethereum treasury strategy in June 2025 from 2.0 to 4.02.Since June 2025, Sharplink has generated 18,800 ETH (on an as-if redeemed basis for LsETH and weETH) in total staking rewards through both native and liquid staking programs.The Company has transitioned the majority of its ETH treasury management in-house, leveraging its institutional-grade team to source and execute ETH productivity opportunities to enhance yield and long-term ETH per share accretion.On May 9, 2026, Sharplink entered into a non-binding Memorandum of Understanding with Galaxy Digital, subjective to definitive agreement, to establish the Galaxy Sharplink Onchain Yield Fund, an approximate $125 million initiative designed to deploy capital into selective onchain opportunities capable of generating strong risk-adjusted returns while providing critical liquidity to emerging protocols. Conference Call Details
Sharplink's leadership will host a conference call followed by a question-and-answer period this morning, Monday, May 11, 2026, beginning at 8:30 AM ET. Please use one of the following methods to access the call:
Date: Monday, May 11, 2026Time: 8:30 A.M. Eastern TimeToll-free dial-in number: (877) 407-2988International dial-in number: (201) 389-0923Webcast: Sharplink's Q1 2026 Earnings Call Participants can also access the Company's earnings call using the call me option here for instant telephone access to the event, which will be active 15 minutes before the scheduled start time.
A telephonic replay will be available approximately three hours after the conference call concludes through Monday, May 25, 2026.
Toll-free replay number: (877) 660-6853International replay number: (201) 612-7415Replay ID: 13759980 A link to the live webcast and replay will also be available at https://www.sharplink.com/investors.
For more detailed information, please refer to the Quarterly Report on Form 10-Q for the three months ended March 31, 2026 filed with the U.S. Securities and Exchange Commission, and accessible at www.sec.gov or on SharpLink's website found at www.sharplink.com.
About Sharplink, Inc.
Sharplink is a leading institutional-grade Ethereum treasury platform designed to give public market investors smarter, more productive exposure to ETH. Ethereum underpins the majority of global stablecoin, tokenized real-world assets and decentralized finance settlement, making ETH a unique native yield generation and long-term network growth opportunity. In addition to its Ethereum treasury platform, Sharplink operates an online affiliate marketing business. Sharplink was founded in 2019 and is headquartered in Miami, Florida. Learn more at www.sharplink.com.
Forward-Looking Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and these forward-looking statements are subject to various risks and uncertainties. Such statements include, but are not limited to, goals and expectations regarding the Company’s strategy and potential partnerships, and other statements accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words, but the absence of these words does not mean that a statement is not forward-looking. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to repurchase additional shares of Sharplink’s common stock through its stock repurchase program, potential use of the Company’s ATM facility, the Company’s ability to achieve profitable operations, fluctuations in the market price of ETH that will impact the Company’s accounting and financial reporting (see accounting rules discussed below), government regulation of cryptocurrencies and online betting, risks related to the launch and operation of the Galaxy Sharplink Onchain Yield Fund (the “Fund”), including the risk that the Fund may not launch on the anticipated timeline or at all, that commitments may not be funded, that the Fund may not achieve its investment objectives and that the Fund’s strategies may result in losses, changes in securities laws or regulations, customer acceptance of new products and services, the demand for its products and its customers’ economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company, changes in applicable laws or regulations, and its competitors, general economic conditions and other risk factors detailed in the Company’s annual report and other filings with the SEC. Under U.S. generally accepted accounting principles (“GAAP”), entities are generally required to measure certain crypto assets at fair value, with changes reflected in net income each reporting period. Changes in the fair value of crypto assets could result in significant fluctuations to the balance sheet and income statement results. Additionally, for other certain types of crypto assets, the Company uses the historical costs less impairment model. This model may require the Company to record an associated impairment charge reflected in net income as a result of a decrease in the market price of the crypto assets below the cost value at which the Company’s crypto assets are carried on its balance sheet. In addition, certain metrics in this release, including “ETH Concentration,” “ETH per share” and “Assumed Diluted Shares Outstanding” are KPI measures and should not be considered substitutes for GAAP financial measures. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company does not undertake any responsibility to update the forward-looking statements in this press release.
CONTACT:
Sharplink’s Investor Relations Contact:
Sean Mansouri, CFA or Aaron D’Souza | Elevate IR
Phone: (720) 330-2829
Email: [email protected]
1 Total ETH holdings held as of March 31, 2026, were comprised of 589,305 native ETH, 209,361 ETH as-if redeemed from LsETH and 72,155 ETH as-if redeemed from WeETH.
2 Total ETH holdings held as of May 4, 2026, were comprised of 590,823 native ETH, 209,789 ETH as-if redeemed from LsETH and 72,372 ETH as-if redeemed from WeETH.
3 To enhance transparency into the Company's yield performance, Sharplink tracks a reporting metric called "ETH Concentration," which is also referred to as “ETH per share.” This metric is calculated by dividing the number of ETH, including the as-if redeemed LsETH, Sharplink holds by each 1,000 assumed diluted shares issued and outstanding ("Assumed Diluted Shares Outstanding"). Assumed Diluted Shares Outstanding represents the sum of (i) Sharplink's actual shares of common stock issued and outstanding as of the end of each reporting period, inclusive of disclosed ATM sales, plus (ii) the additional shares that would be issued upon the assumed exercise or settlement of all outstanding warrants, pre-funded warrants, stock option awards, and restricted stock units. Notably, Assumed Diluted Shares Outstanding is not calculated using the treasury stock method. It does not account for equity award vesting conditions, stock option exercise prices, or contractual restrictions limiting the convertibility of debt instruments. Additionally, it excludes any assumed share repurchases that would ordinarily be considered under the treasury stock method. Cash-converted basis assumes full cash deployment into ETH at week-ending closing price.
SHARPLINK, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share data)
March 31, 2026 December 31, 2025 (unaudited) Assets Current Assets Cash $16,875 $28,539 USDC stablecoin - 1,882 Accounts receivable, net of allowance for credit losses of $0 461 221 Prepaid expenses and other current assets 689 329 Current assets from discontinued operations - 182 Total current assets 18,025 31,153 Crypto assets at fair value 1,239,140 1,899,683 Crypto assets at cost 486,852 500,912 Equipment, net 14 10 Intangible assets, net 7 8 Total assets $1,744,038 $2,431,766 Liabilities and Stockholders’ Equity Current Liabilities Accounts payable and accrued expenses 4,243 12,748 Current liabilities from discontinued operations $- $1 Total current liabilities 4,243 12,749 Total liabilities 4,243 12,749 Commitments and Contingencies (Note 10) Stockholders’ Equity Series A-1 preferred stock, $0.0001 par value; authorized shares: 260,000; issued and outstanding shares: 0 - - Series B preferred stock, $0.0001 par value; authorized shares: 370,000; issued and outstanding shares: 0 - - Common stock, $0.0001 par value; authorized shares 2,500,000,000 and 100,000,000; issued 201,063,967 and 200,584,713, respectively; outstanding shares: 199,125,509 and 198,646,255 respectively 20 20 Treasury stock, 1,938,458 of common stock at cost (31,721) (31,721)Additional paid-in capital 3,268,259 3,263,114 Accumulated deficit (1,496,763) (812,396)Total stockholders’ equity 1,739,795 2,419,017 Total liabilities and stockholders’ equity $1,744,038 $2,431,766 See accompanying notes to these condensed consolidated financial statements
SHARPLINK, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
(In thousands, except share and per share data)
For the Three Months Ended March 31, 2026 2025Revenue from staking $11,501 $- Revenue from affiliate marketing 557 742 Total revenue 12,058 742 Gains and (losses) from operations Realized gain on crypto assets, net 12,005 - Unrealized loss on crypto assets at fair value, net (506,664) - Total losses from operations, net (494,659) - Operating expenses Cost of revenues from affiliate marketing 432 610 Selling, general, and administrative expenses 9,876 1,058 Impairment of crypto assets at cost 191,670 - Total operating expenses 201,978 1,668 Operating loss (684,579) (926) Other income (expense) Interest income 203 12 Other expense (2) - Total other income, net 201 12 Net loss before income taxes (684,378) (914)Income tax expense (1,183) (3)Net loss from continuing operations (685,561) (917)Net loss from discontinued operations, net of tax - (58)Net loss $(685,561) $(975) Numerator for net loss per share - basic and diluted: Net loss from continuing operations $(685,561) $(917)Net loss from discontinued operations - (58)Net loss $(685,561) $(975) Denominator for net loss per share - basic and diluted: Basic and diluted weighted average shares for continuing and discontinued operations 210,865,894 531,226 Net loss per share - basic and diluted Net loss from continuing operations per share - basic and diluted $(3.25) $(1.73)Net loss from discontinued operations per share – basic and diluted - (0.11)Net loss per share - basic and diluted $(3.25) $(1.84) See accompanying notes to these condensed consolidated financial statements
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MIAMI, FL, May 26, 2026 (GLOBE NEWSWIRE) -- Sharplink, Inc. (Nasdaq: SBET) ("Sharplink" or the "Company"), one of the world's largest corporate holders of Ether ("ETH") and a prominent industry advocate of Ethereum adoption, today announced that it will be included in the Russell 2000® Index and Russell 3000® Index. The addition follows publication of FTSE Russell's preliminary list of index changes on May 22, 2026, and it will take effect on June 29, 2026 at the conclusion of the Russell indexes' semi-annual reconstitution.
According to FTSE Russell, approximately $12.2 trillion in assets are benchmarked against the Russell US Indexes, spanning both index funds and active strategies. The Russell 2000, in particular, is widely regarded as the leading benchmark for U.S. small cap equities, making index membership a meaningful driver of institutional visibility and access to index-tracking capital.
Joseph Chalom, Chief Executive Officer of Sharplink, commented, "Joining the Russell 2000 and Russell 3000 is a meaningful validation of Sharplink’s institutional-grade ETH treasury strategy and we believe will broaden SBET's shareholder base while strengthening our access to capital markets. Ethereum sits at the center of four secular trends reshaping finance today: stablecoins, tokenization, onchain finance, and the emerging agentic economy. Through disciplined, active treasury management, Sharplink gives public market investors productive exposure to ETH and the broader Ethereum opportunity."
For more information on the Russell 2000 Index, Russell 3000 Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
About Sharplink, Inc.
Sharplink is a leading institutional-grade Ethereum treasury platform designed to give public market investors smarter, more productive exposure to ETH. Ethereum underpins the majority of global stablecoin, tokenized real-world assets and decentralized finance settlement, making ETH a unique native yield generation and long-term network growth opportunity. In addition to its Ethereum treasury platform, Sharplink operates an online affiliate marketing business. Sharplink was founded in 2019 and is headquartered in Miami, Florida. Learn more at www.sharplink.com.
About FTSE Russell, an LSEG Business
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally.
Approximately $21.20 trillion is benchmarked to FTSE Russell indexes. Leading asset owners, asset managers, ETF providers and investment banks choose FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by LSEG. For more information, visit FTSE Russell.
Forward-Looking Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and these forward-looking statements are subject to various risks and uncertainties. Such statements include, but are not limited to, goals and expectations regarding the Company’s strategy and potential partnerships, and other statements accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words, but the absence of these words does not mean that a statement is not forward-looking. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to repurchase additional shares of Sharplink’s common stock through its stock repurchase program, potential use of the Company’s ATM facility, the Company’s ability to achieve profitable operations, fluctuations in the market price of ETH that will impact the Company’s accounting and financial reporting (see accounting rules discussed below), government regulation of cryptocurrencies and online betting, changes in securities laws or regulations, customer acceptance of new products and services, the demand for its products and its customers’ economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company, changes in applicable laws or regulations, and its competitors, general economic conditions and other risk factors detailed in the Company’s annual report and other filings with the SEC. Under U.S. generally accepted accounting principles, entities are generally required to measure certain crypto assets at fair value, with changes reflected in net income each reporting period. Changes in the fair value of crypto assets could result in significant fluctuations to the balance sheet and income statement results. Additionally, for other certain types of crypto assets, the Company uses the historical costs less impairment model. This model may require the Company to record an associated impairment charge reflected in net income as a result of a decrease in the market price of the crypto assets below the cost value at which the Company’s crypto assets are carried on its balance sheet. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company does not undertake any responsibility to update the forward-looking statements in this press release.
CONTACT:
Sharplink’s Investor Relations Contact:
Sean Mansouri, CFA or Aaron D’Souza | Elevate IR
Phone: (720) 330-2829
Email: [email protected]
Investors might want to bet on Sharplink Inc (SBET - Free Report) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.
A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.
Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.
Therefore, the Zacks rating upgrade for Sharplink Inc basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.
For Sharplink Inc, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .
Earnings Estimate Revisions for Sharplink IncThis company is expected to earn -$1.51 per share for the fiscal year ending December 2026, which represents no year-over-year change.
Analysts have been steadily raising their estimates for Sharplink Inc. Over the past three months, the Zacks Consensus Estimate for the company has increased 185.3%.
Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Sharplink Inc to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
A downtrend has been apparent in Sharplink Inc (SBET - Free Report) lately with too much selling pressure. The stock has declined 30.2% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.
We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.
RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.
Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.
So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefiting from the inevitable rebound.
However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.
Why a Trend Reversal is Due for SBETThe heavy selling of SBET shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 29.71. So, the trend for the stock could reverse soon for reaching the old equilibrium of supply and demand.
The RSI value is not the only factor that indicates a potential turnaround for the stock in the near term. On the fundamental side, there has been strong agreement among the sell-side analysts covering the stock in raising earnings estimates for the current year. Over the last 30 days, the consensus EPS estimate for SBET has increased 45%. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.
Moreover, SBET currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Sharplink offers a 'purer' investment opportunity compared to Bitmine, which is heavily influenced by its founder. SBET should benefit from ETH after the passage of CLARITY catalyzes on-chain finance. A recent deal with Galaxy Digital shows their ability to optimize yield.
