SHARPLINK GAMING Business Summary

Sharplink, Inc. (formerly SharpLink Gaming) operates a dual-core business model that transitioned in 2025 from a pure-play iGaming affiliate to a leading Ethereum-focused digital asset treasury (DAT) company. The firm generates the vast majority of its revenue through Ethereum staking rewards and capital appreciation from its massive ETH holdings, which totaled approximately 867,798 ETH (valued at ~$1.72 billion) as of February 2026. Its primary business segments are Ethereum Staking/Treasury Management and Affiliate Marketing, the latter of which utilizes the proprietary C4 conversion platform to drive traffic to licensed sportsbooks. Sharplink competes directly with digital asset proxies like MicroStrategy (MSTR) and crypto-native firms like Coinbase (COIN), while maintaining a legacy competitive footprint against gaming affiliates such as Better Collective and Catena Media. The company currently positions itself as a high-liquidity institutional proxy for Ethereum exposure, offering yield-bearing digital asset management alongside a performance-marketing backbone. Leadership is currently spearheaded by sole CEO and President Joseph Chalom, who assumed full control in December 2025 to lead the company’s institutional-grade treasury expansion. The board is chaired by Joseph Lubin, a co-founder of Ethereum and CEO of Consensys, providing the company with deep structural ties to the Ethereum ecosystem. Other key executives include Chief Financial Officer Robert DeLucia, Chief Investment Officer Matthew Sheffield—who brings pedigree from FalconX and Bridgewater Associates—and Steven Ehrlich as Head of Research and Communications. The company’s strategic pivot was anchored by a $425 million private placement led by Consensys in mid-2025, and as of early 2026, institutional ownership has reached a record 46%, reflecting significant backing from sophisticated digital asset and equity investors.