SharpLink Gaming, which trades under the ticker SBET, is expanding its share issuance program by up to $5 billion as part of its ongoing effort to bolster its ether (ETH) treasury and business operations.

The company amended its At-The-Market (ATM) sales agreement with Alliance Global Partners, increasing the maximum possible aggregate stock offering from $1 billion to $6 billion, with the majority of the raised funds earmarked for acquiring ETH as a core reserve asset.

This story is an excerpt from the Unchained Daily newsletter.

SharpLink’s ether holdings recently surpassed 307,358 ETH, overtaking the Ethereum Foundation’s total stash of the asset.

Most of SharpLink’s ETH is staked via decentralized protocols, earning passive income and supporting the company’s digital asset-centered business model.