Sharplink buys Ethereum for first time in 8 months, adding 5,000 ETH: onchain analyst
Quick Take
- Sharplink bought 5,000 ETH on Thursday, its first ether purchase since October 2025, according to EmberCN.
- Sharplink recently supported the launch of Ethlabs, a nonprofit founded by former Ethereum Foundation researchers.
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Sharplink bought 5,000 ETH worth $7.85 million on Thursday, its first ether acquisition in eight months, according to onchain data cited by analysis provider EmberCN.
EmberCN pointed to Arkham data showing that the Ethereum treasury firm received 5,000 ETH from FalconX. Its last ether purchase was in October 2025, when it obtained 19,270 ETH ($78.3 million).
As of June 21, Sharplink held 876,285 ETH, worth roughly $1.3 billion, according to its website. EmberCN estimated that the company's average acquisition cost stood at $3,609 per ETH, which implies an unrealized loss of about $1.79 billion.
The company has not publicly disclosed the reported ETH purchase. The Block has reached out to Sharplink for confirmation.
Sharplink remains the world's second-largest public ETH treasury company, behind Tom Lee's Bitmine Immersion, which held 5.67 million ETH ($8.7 billion) as of June 14.
Sharplink rebranded from SharpLink Gaming in February as it expanded from traditional ether staking into other onchain yield strategies. The company reported $12.1 million in total revenue in the first quarter of this year, a significant leap from just $742,000 in the same quarter last year.
The treasury firm recently supported the launch of Ethlabs, a nonprofit founded by a group of former Ethereum Foundation researchers to help prepare the network for its "next phase" of institutional adoption. Ethlabs is also backed by Ethereum co-founder and Sharplink Chairman Joe Lubin, as well as Bitmine Immersion.
Ethereum fell 5% over the past 24 hours to trade at $1,534 as of 10:40 p.m. Thursday, according to The Block's price page. The crypto market saw a broader decline, with bitcoin dropping 3.3% to $58,787. Tether's USDT, meanwhile, surpassed Ethereum's $185.4 billion market cap with $186.1 billion.
Sharplink's Nasdaq-listed shares closed down 3.49% at $4.56 on Thursday. The stock has fallen 26.8% over the past month and 50.4% over the past six months.
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