Key Takeaways:
Sharplink Inc. bought 10,000 Ether for about $16 million, expanding its corporate treasury to 886,725 ETH worth $1.38 billion as of Tuesday.
"Our capital allocation philosophy is disciplined and straightforward: every financing decision we make is based on our long-term objective to increase ETH per share," Chief Executive Officer Joseph Chalom said in a statement.
The Nasdaq-listed company paid an average of $1,611 per ETH, according to a June 30 filing. The purchase was funded by a $75 million registered direct offering of common stock and warrants completed the prior week. Sharplink also repurchased 2,132,773 shares of SBET at $4.69 each, bringing total buybacks since August 2025 to more than 4 million shares.
The dual strategy of issuing equity to buy ETH while simultaneously reducing the share count mirrors the capital-recycling model pioneered by Strategy for Bitcoin. Sharplink's treasury now holds 632,719 native ETH, 181,299 in liquid staking tokens and 72,707 in wrapped restaked ETH, generating yield at two layers beyond spot price exposure.
The purchase marks Sharplink's first ETH acquisition since October and comes as Ether trades near $1,562, down 22% in the past month and 68% below its all-time high of $4,946. SBET shares fell about 3% to $4.76 on Tuesday and have dropped 22% over the past month.
Sharplink's three-instrument treasury structure means the company earns staking and restaking yield on roughly 29% of its holdings, though the weETH position carries slashing risk absent from native ETH. The firm also joined with BitMine Immersion Technologies to back Ethlabs, a nonprofit research organization focused on Ethereum development, and launched a $125 million fund with Galaxy Research to access on-chain yields.
This article is for informational purposes only and does not constitute investment advice.
