Sharplink Buys $62.4 Million in Ether as Company Revives ETH Accumulation Strategy

Crypto treasury company Sharplink has resumed its Ether buying strategy, purchasing 39,196 ETH worth approximately $62.4 million over three days after an eight month pause. The latest acquisitions signal renewed confidence in Ethereum despite continued weakness across the broader crypto market.

Sharplink Adds Nearly 40,000 ETH in Three Days

Blockchain data shows Sharplink began its latest buying spree on Thursday by purchasing 5,000 ETH. The company added another 5,000 ETH on Friday, valued at around $7.9 million, before completing three over-the-counter transactions on Saturday to acquire 29,196 ETH worth roughly $46.7 million.

The purchases strengthen signs that Sharplink has restarted its long-term Ether accumulation strategy. The company was previously one of the largest corporate holders of ETH, competing closely with Bitmine for the top position.

Sharplink Supports Ethereum Institutional Adoption

The buying activity came during the same week Sharplink joined Bitmine, Ethereum co-founder and Sharplink chairman Joe Lubin, and other Ethereum contributors in supporting Ethlabs, a new research and development nonprofit.

Ethlabs aims to prepare Ethereum for greater institutional adoption as stablecoins, tokenized real-world assets, investment funds, and AI-driven commerce increasingly move onto blockchain networks. The organization believes Ethereum is well positioned to serve as a neutral settlement layer for the global digital economy.

Sharplink’s purchases come during a difficult period for Ether. The cryptocurrency has fallen 22.8% over the past month and is down nearly 50% since the beginning of the year.

At the same time, U.S. spot Ether exchange-traded funds recorded their seventh consecutive week of net outflows, totaling $12.9 million, with most withdrawals coming from BlackRock’s iShares Ethereum Trust (ETHA), highlighting continued caution among institutional investors despite Sharplink’s renewed buying activity.