Sharplink Restarts Ethereum Accumulation With $16M ETH Purchase as Treasury Strategy Expands

Ethereum treasury company Sharplink has resumed its ETH buying strategy, adding 10,000 Ether worth roughly $16 million last week in its first major purchase since October.

The acquisition pushes Sharplink’s total Ethereum holdings to 886,725 ETH, valued at approximately $1.38 billion based on current market prices. The move comes as Ethereum trades near $1,562, with the broader crypto market facing continued volatility.

Sharplink CEO Joseph Chalom said the company’s treasury decisions remain focused on increasing ETH exposure on a per-share basis over the long term.

“Our capital allocation philosophy is disciplined and straightforward: Every financing decision we make is based on our long-term objective to increase ETH per share,” Chalom said.

The company recently secured $75 million through a registered direct offering, providing additional capital to expand its Ethereum treasury strategy. Sharplink said the funding would support future ETH accumulation and broader treasury management efforts.

Alongside its Ether purchase, the firm continued its stock buyback initiative, repurchasing more than 2.1 million shares of SBET. Sharplink said it views its shares as undervalued, bringing total buybacks under the program to more than 4 million shares since its launch last year.

Despite the renewed ETH accumulation, investor sentiment around SBET remained weak. Shares fell about 3% following the announcement, trading near $4.76. The stock is down nearly 22% over the past month and remains far below its 52-week peak of $40.46.

Ethereum has also faced pressure, dropping roughly 22% over the past month and sitting more than 68% below its previous all-time high of $4,946.

Sharplink’s move comes as other crypto treasury firms continue building digital asset reserves despite market declines. Ethereum-focused rival BitMine Immersion Technologies added nearly $43 million worth of ETH last week, increasing its holdings to more than 5.7 million ETH, valued at around $9 billion.

Beyond accumulating Ether, Sharplink is also expanding its involvement in Ethereum’s ecosystem. The company recently partnered with BitMine to support the creation of Ethlabs, a nonprofit research and development group focused on advancing Ethereum and its native asset.

The firm has also been increasing its exposure to on-chain opportunities, announcing a $125 million fund with Galaxy Research last month aimed at accessing Ethereum-based yield strategies.

With its latest purchase, Sharplink is signaling that it remains committed to Ethereum’s long-term growth despite recent price declines and market uncertainty.