SharpLink Buys $54M in ETH, Holdings Reach $1.65B

SharpLink has continued its aggressive accumulation of Ether, adding another 15,822 ETH, worth approximately $53.9 million, over the past several hours, according to onchain data.

The purchases were split across multiple transactions, with the largest single transfer totaling 6,914 Ether (ETH), valued at $23.56 million, according to data from Arkham Intelligence.

The new haul brings SharpLink’s total ETH holdings to 480,031 ETH, worth around $1.65 billion at current prices. The buying spree has been ongoing over the past 48 hours, during which the company spent $108.57 million in USDC to acquire 30,755 ETH at an average price of $3,530.

On Thursday, SharpLink also spent $43.09 million USDC (USDC) to purchase 11,259 ETH at an average price of $3,828, according to onchain data.

Related: ETH recovery outpaces Bitcoin despite constant selling at $4K: Here’s why

The Ether Machine buys $57M in ETH

Last week, The Ether Machine added 15,000 ETH to its treasury in a $56.9 million purchase. The acquisition, made at an average price of $3,809 per ETH, coincided with Ethereum’s 10th anniversary.

With the latest move, The Ether Machine’s holdings rise to 334,757 ETH, surpassing the Ethereum Foundation’s 234,000 ETH. The firm now ranks as the third-largest corporate ETH holder, behind only BitMine and SharpLink, according to StrategicETHReserve.

Formed earlier this year through a merger with Nasdaq-listed Dynamix Corp., Ether Machine is targeting a $1.6 billion raise and plans to go public under the ticker ETHM later this year.

Related: Ethereum 2035: How the Next 10 Years Might Look

Corporations bet big on Ethereum as treasury

Corporations are accelerating their Ether purchases, viewing the network as essential infrastructure for the digital economy, according to NoOnes CEO Ray Youssef.

Youssef described Ethereum as a “hybrid between tech equity and digital currency,” increasingly appealing to treasury strategists focused on utility, not just passive storage.

Youssef said ETH’s staking yield, programmability, and regulatory alignment are drawing forward-looking companies. Ethereum currently hosts the majority of tokenized assets and stablecoins, commanding 58.1% of the $13.4 billion real-world asset market.