TL;DR:
- Sharplink acquired 5,000 ETH for approximately $7.85 million, its first Ethereum purchase in eight months.
- The firm holds an unrealized loss of around $1.79 billion, given that the average purchase price is $3,609 per coin.
- Sharplink shares fell 3.5% on Thursday and are down 50% over the past six months.
Sharplink resumed its Ethereum purchases after acquiring 5,000 ETH valued at approximately $7.85 million through crypto broker FalconX. According to data from Arkham Intelligence, this marks the company’s first ETH inflow in eight months, as its last purchase had been in October 2025, when it acquired 19,270 ETH for $78.3 million, a position also in loss.
The transaction coincides with a sharp market correction. Ethereum fell 5% in the last 24 hours, breaking below $1,560, while Bitcoin lost the $59,000 level. During the session, Tether (USDT) briefly managed to surpass ETH in market capitalization, with approximately $186 billion against $185 billion.
The Market Deals Sharplink a Heavy Blow
With 876,285 ETH in its treasury as of June 21, valued at around $1.3 billion, Sharplink is the second-largest public corporate holder of Ethereum, behind Bitmine Immersion (BMNR), which controlled around 5.67 million ETH as of mid-June. Onchain analyst EmberCN calculated an average purchase price of $3,609 per coin, implying an unrealized loss of approximately $1.79 billion given that ETH is trading near $1,555.
The company, which rebranded as SharpLink in February 2026, shifted its strategy and pushed beyond basic ETH staking toward other onchain yield sources. In the first quarter it reported revenues of $12.1 million, compared to $742,000 in the same period the previous year. It also lent its support to Ethlabs, a nonprofit founded by former Ethereum Foundation researchers, alongside Bitmine and Joe Lubin, Ethereum co-founder and chairman of Sharplink.
Operating results have not been enough to support the stock price. The company’s Nasdaq shares closed Thursday with a decline of 3.5% to $4.56, and are down 27% over the past month and 50% over the past six months.
