Nikolas Sargeant
TL;DR
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Sharplink bought 5,000 ETH on Thursday, its first ether purchase since October 2025, according to EmberCN.
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Despite the lengthy pause in acquisitions, SharpLink continues to rank among the largest corporate holders of Ethereum.
SharpLink Resumes Ethereum Accumulation with 5,000 ETH Purchase
Ethereum treasury company SharpLink reportedly acquired 5,000 ETH worth approximately $7.85 million on Thursday, marking its first Ethereum purchase in eight months, according to on-chain analysis shared by blockchain intelligence platform EmberCN.
Citing data from Arkham Intelligence, EmberCN said the ETH was transferred to SharpLink from digital asset trading firm FalconX. If confirmed, the transaction would be the company's first Ether acquisition since October 2025, when it purchased 19,270 ETH valued at roughly $78.3 million.
SharpLink has not publicly confirmed the reported purchase.
Despite the lengthy pause in acquisitions, SharpLink continues to rank among the largest corporate holders of Ethereum.
According to information published on the company's website, SharpLink held 876,285 ETH as of June 21, valued at approximately $1.3 billion based on current market prices.
EmberCN estimated that the company's average acquisition cost is around $3,609 per ETH. With Ethereum trading significantly below that level, SharpLink is currently sitting on an estimated unrealized loss of roughly $1.79 billion.
The company remains the world's second-largest publicly listed Ethereum treasury, trailing only Tom Lee-backed Bitmine Immersion, which held approximately 5.67 million ETH worth $8.7 billion as of June 14.
SharpLink Expands Beyond Ethereum Staking
SharpLink has undergone a significant transformation over the past year. Formerly known as SharpLink Gaming, the company rebranded in February to expand its business beyond traditional Ethereum staking into a broader range of on-chain yield-generation strategies.
The strategic shift has coincided with strong financial growth. SharpLink reported first-quarter revenue of $12.1 million this year, a substantial increase from just $742,000 during the same period a year earlier.
SharpLink has also increased its involvement in the broader Ethereum ecosystem. The treasury firm recently supported the launch of Ethlabs, a nonprofit organization established by former Ethereum Foundation researchers to help prepare the blockchain network for its next phase of institutional adoption.
Ethlabs is backed by several prominent figures in the Ethereum community, including Ethereum co-founder and SharpLink Chairman Joe Lubin, as well as Bitmine Immersion.
Ethereum Declines as Broader Crypto Market Weakens
The reported purchase comes during a period of heightened volatility across the cryptocurrency market.
Ethereum fell roughly 6% over the past 24 hours to trade near $1,545, while Bitcoin declined approximately 3% to around $59,662.
Meanwhile, stablecoin issuer Tether reached another milestone as USDT's market capitalization climbed to approximately $186.1 billion, just below Ethereum's market value of roughly $186.5 billion.
