SharpLink Resumes ETH Accumulation with $62.4M Purchase After Eight-Month Pause

SharpLink, Inc. is back in the game of accumulating Ethereum after an eight-month break. Between June 25 and 27, 2026, they bought 39,196 ETH for about $62.4 million through FalconX and over-the-counter deals, with ETH prices hovering around $1,537, close to its 2026 low. Now, SharpLink possesses 868,699 ETH, valued at $1.51 billion, making it the second-largest corporate holder, representing 0.720% of the total supply. Their average purchase price was $3,609, leading to an unrealized loss of $1.79 billion. During the hiatus, they earned 22,102 ETH from staking rewards. The acquisition was partly financed by a $75 million offering on June 23, priced at $7.49 per share. Additionally, SharpLink has teamed up with several companies to start Ethlabs, which focuses on Ethereum infrastructure. They’ll be included in the Russell 2000 and Russell 3000 indexes starting June 29, 2026. Joe Lubin, their chairman and co-founder of Ethereum, and CEO Joseph Chalom, a former BlackRock executive, lead the company. SharpLink, which rebranded from SharpLink Gaming in February 2026, reported $12.1 million in revenue for Q1 2026, a significant increase from $742,000 in Q1 2025. However, the market isn’t looking great, with ETH down 22.8% in the past month and almost 50% this year. Plus, U.S. spot Ether ETFs have seen seven weeks of net outflows, and SBET has dropped 47.37% year-to-date on Nasdaq.