SharpLink has resumed its Ethereum accumulation strategy with a significant purchase. The company acquired 39,196 ETH for $62.4 million last week, breaking an eight-month buying pause.
The acquisition, executed through FalconX, began on June 25-26. It occurred while Ethereum was trading near 2026 lows between $1,537 and $1,578 per token.
SharpLink now holds an estimated 868,699 to 876,285 ETH. At current prices, this treasury is valued between $1.3 billion and $1.37 billion, making it the second-largest public corporate Ethereum holder.
The company's average acquisition cost is approximately $3,609 per ETH. With the token trading below $1,600, SharpLink faces estimated unrealized losses of around $1.79 billion.
The company's strategy is led by Chairman Joseph Lubin, an Ethereum co-founder and founder of ConsenSys, and CEO Joseph Chalom, a former BlackRock executive. SharpLink pivoted to its Ethereum treasury model in 2025 after a $425 million capital raise.
SharpLink has approximately 22,102 ETH staked to generate on-chain yield, a component that differentiates its strategy from Bitcoin treasury models. The firm has also backed Ethlabs, an initiative to bolster Ethereum's institutional readiness.