SharpLink buys US$16.1M in Ethereum

• SharpLink purchased another 10,000 Ethereum for approximately US$16.1 million, increasing its holdings to 886,725 ETH.
• The acquisition comes as Ethereum heads toward its first-ever third consecutive quarterly decline despite continued institutional buying.
• SharpLink and Bitmine continue expanding their Ethereum treasuries as analysts monitor the US$1,500 support level.

SharpLink Gaming purchased 10,000 Ethereum (CRYPTO:ETH) for approximately US$16.1 million, increasing its treasury holdings to 886,725 ETH after completing a US$75 million capital raise.

The purchase comes as Ethereum (CRYPTO:ETH) trades near US$1,560, down about 25% for the quarter and on track for its first three consecutive quarterly declines, despite continued institutional accumulation.

“According to crypto analyst Ted Pillows, Ethereum could stage a relief rally next month if it manages to hold support around US$1,500.”

SharpLink also repurchased more than 2.13 million shares at an average price of US$4.69, bringing total buybacks since August 2025 to more than 4.07 million shares, while the company recently joined the Russell 2000 and Russell 3000 indices.

The company continues expanding its Ethereum treasury alongside other listed firms, while SharpLink Gaming shares were down nearly 4% at about US$4.72 following the latest announcement.

Meanwhile, Bitmine Immersion Technologies increased its holdings to more than 5.7 million ETH, representing about 4.7% of Ethereum's estimated circulating supply of 120.7 million ETH, according to the company.

Market analysts said continued corporate accumulation could reduce the amount of Ethereum available for trading, although they also warned that concentrated ownership could create risks if treasury companies later need to sell assets or raise additional capital during weaker market conditions.

At the time of reporting, Ethereum price was $1,583.53.