Sharplink (SBET) apparently purchased 5,000 ether (ETH) worth about $7.85 million on Thursday, its first influx of ether in eight months, according to Arkham data showing the coins arriving from crypto brokerage FalconX.
The purchase is modest relative to the company’s existing stack and comes at a difficult time. Sharplink held 876,285 ether as of June 21, worth approximately $1.3 billion, making it the second largest public ether treasury company behind Tom Lee’s Bitmine Immersion (BMNR), which held approximately 5.67 million ether as of mid-June.
Onchain analyst EmberCN estimates Sharplink’s average purchase price at around $3,609 per coin, implying an unrealized loss of around $1.79 billion, with ether trading near $1,555.
His last purchase was in October 2025, when he added 19,270 ether for $78.3 million, also now deep underwater.
ETH fell 5% in the past 24 hours amid a broad cryptocurrency selloff, falling below $1,560 while Bitcoin fell below $59,000. Tether’s USDT briefly surpassed ether in market value during the rout, at around $186 billion compared to ether’s $185 billion.
