- SharpLink dismissed speculation about needing shareholder approval for Ethereum purchases.
- BitMine clarified that it trades on the NYSE rather than the Nasdaq and can continue issuing shares through shelf registration without additional approvals.
SharpLink and BitMine have released statements addressing their regulatory compliance after reportedly being subjected to greater scrutiny by Nasdaq regarding the operations of digital asset treasury companies.
Both firms emphasized that their activities would not be impacted by recent speculation regarding shareholder approval requirements for crypto acquisitions. The explanations follow news that Nasdaq has increased the scrutiny of companies upgrading their cryptocurrency assets.
According to SharpLink, it does not require further shareholder approval for its at-the-market program, which is aimed at purchasing Ethereum. The company also stressed its capital-raising policy did not change and is still in the interest of shareholders.
The company emphasized its commitment to transparency and compliance with regulations. As SharpLink noted, all transactions are in alignment with the Nasdaq standards and industry best practices. The management rejected proposals that new shareholder approval regulations should apply to their operational structure.
SharpLink is fully compliant with Nasdaq rules and does not require further shareholder approvals if we choose to execute our ATM program to fund ETH purchases.
Our strategy remains unchanged: raise capital only when it is accretive for shareholders.
Recent media reports have…
— SharpLink (SBET) (@SharpLinkGaming) September 5, 2025
SharpLink Maintains Ethereum Accumulation Strategy
SharpLink has a current valuation of 837,230 ETH, worth around $3.59 billion. The company is the second-largest public Ethereum holder in the world. This large holding is a result of Ethereum accumulation being a strategic focus of the company.
According to our recent analysis, SharpLink raised $46.6M in equity sales, funding part of its $177M Ethereum purchase. Most of the purchase was funded through SharpLink’s equity program.
The management emphasized that the news of increased scrutiny in the media is not affecting their operations. The current ATM program that SharpLink has will enable it to purchase Ethereum further without any additional regulatory approvals. The company modelled its capital-raising strategy to be accretive to current shareholders.
BitMine Leads Public Ethereum Holdings
BitMine, under the leadership of Tom Lee, is the biggest publicly owned Ethereum holder with 1.87 million ETH worth about $8 billion. The company also responded to recent Nasdaq oversight reports via official communications.
BitMine made it clear that it is listed on the New York Stock Exchange and not on Nasdaq. The company also stated that it may issue shares through existing shelf registration without shareholder approval. Management pointed out that their ATM program is a registered public offering without further approval.
The company gave background information on Nasdaq regulations affecting crypto treasury firms. BitMine clarified that the guidance relates to firms setting up crypto treasuries and taking new shares in cryptocurrency. Businesses with over 20% offerings would require shareholder approval through these regulations.
BitMine received approval at the NYSE as part of a PIPE deal completed in July. This approval procedure covered regulatory conditions in their Ethereum accumulation plan. The company took a proactive stance on compliance, placing it in an advantageous position in the regulatory arena.
As detailed in our last news piece, BitMine has been actively acquiring Ethereum with a recent purchase of $358 million. The firm hopes to purchase up to 5% of the total supply of Ethereum.
Source: Lookonchain
At the time of writing, Ethereum is trading at $4,298.18, down 0.73% in the last 24 hours.
