Sharplink (SBET) apparently bought 5,000 ether (ETH) worth about $7.85 million on Thursday, its first ether inflow in eight months, according to Arkham data showing the coins arriving from crypto brokerage FalconX.
The purchase is small against the company’s existing pile and lands at an awkward moment. Sharplink held 876,285 ether as of June 21, worth roughly $1.3 billion, making it the second-largest public ether treasury 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 about $3,609 per coin, which implies an unrealized loss of around $1.79 billion with ether trading near $1,555.
Its 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 last 24 hours in a broad crypto sell-off, dropping below $1,560 as bitcoin slipped under $59,000. Tether’s USDT briefly overtook ether by market value during the rout, at about $186 billion to ether’s $185 billion.