SharpLink (SBET) resumed its Ethereum accumulation strategy after months without a purchase, adding 10,000 ETH last week at an average price of $1,611 per token. The acquisition lifted the company's holdings to 886,725 ETH, valued at about $1.4 billion at publication, following a $75 million registered direct offering that strengthened its balance sheet.
The move also came as Ethereum extended a difficult market period and corporate interest in digital asset treasuries continued to attract attention. Could SharpLink's renewed buying shape how other public companies approach Ethereum treasury strategies?
The Florida-based company made its first Ethereum purchase since October. It bought 10,000 ETH at an average price of $1,611 each. As a result, SharpLink now holds 886,725 ETH. The treasury stands at roughly $1.4 billion based on current market value.
The latest purchase followed the completion of a $75 million registered direct offering. According to the company, the capital supports its active Ethereum treasury management strategy. Chief Executive Officer Joseph Chalom said the successful offering strengthened the balance sheet. He added that every financing decision aims to increase Ethereum per share over the long term.
Meanwhile, SharpLink also repurchased more than 2.13 million common shares last week. The company paid an average price of $4.69 per share as it considered the stock significantly undervalued. The company has now repurchased more than four million shares since launching its buyback program last August. Even so, SharpLink shares closed Tuesday at $4.80 after falling 2.44% during the session.
The stock remains 88% below its 52-week high of $40.46. That performance reflects Ethereum's recent market weakness.
Ethereum has now posted three consecutive quarters of losses. According to Coinglass data, the asset declined 25.4% during the second quarter. Earlier, Ethereum recorded losses of 29.2% in the first quarter of 2026 and 28.2% during the fourth quarter of 2025. Those declines weighed on companies with large ETH exposure.
Over the past 24 hours, Ethereum recorded $58.5 million in liquidations. Long positions accounted for $41.3 million of that total. Price action also remained weak on the daily chart. Ethereum traded below its 20-day, 50-day, and 100-day Exponential Moving Averages at $1,669, $1,824, and $2,002.
The asset also stayed below a descending trendline near $1,617. Meanwhile, the Relative Strength Index stood at 34, just above oversold territory, while the Stochastic Oscillator hovered near 21.
Analysts identified resistance at $1,611 and $1,617. Higher resistance levels appear at $1,669, $1,741, $1,806, $1,824, $1,909, and $2,002. Support remains at $1,524, followed by $1,404. A deeper decline could expose the key support level near $1,155.
Read More: SharpLink Purchases $62M in Ethereum Following Eight-Month Hiatus
Last week, SharpLink joined Chairman Joe Lubin and BitMine to fund the launch of Ethereum research and development nonprofit Ethlabs. The company began its Ethereum treasury strategy in May 2025. At that time, it shifted its treasury toward ETH accumulation while prices traded slightly below current levels.
Institutional staking has also emerged as a growing source of demand across proof-of-stake networks. Although SharpLink has not disclosed any staking activity, the company could eventually expand beyond simply holding Ethereum.
Regulatory uncertainty remains another factor. Public companies reporting under U.S. securities laws must classify digital assets carefully, while future SEC guidance could affect how companies account for corporate crypto holdings or manage treasury positions.
SharpLink resumed its Ethereum treasury strategy by purchasing 10,000 ETH after raising $75 million, increasing its holdings to 886,725 ETH. The company also continued its share buyback program as Ethereum traded under sustained market pressure and regulatory uncertainty remained an important factor for corporate crypto holdings.