Sharplink (SBET) apparently bought 5,000 ether (ETH) worth about $7.85 million on Thursday, its first ether influx in eight months, according to Arkham data showing the coins arriving from crypto brokerage FalconX.
The purchase is small compared to the company’s existing pile and lands at an awkward moment. Sharplink had 876,285 ether per June 21, worth about $1.3 billion, making it the second largest public ether financial company behind Tom Lee’s Bitmine Immersion (BMNR), which held about 5.67 million ether in mid-June.
Onchain analyst EmberCN put 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.
The last purchase came in October 2025, when it added 19,270 ether for $78.3 million, also now deep underwater.
ETH fell 5% over the past 24 hours in a broad crypto selloff, falling below $1,560 as bitcoin fell below $59,000. Tether’s USDT briefly overtook ether in market cap during the route, at around $186 billion to ether’s $185 billion.
