Sharplink Gaming (NASDAQ:SBET) bought 10,000 Ethereum (CRYPTO: ETH) last week for $16.1 million, its first ETH purchase in eight months, while also repurchasing 2.13 million of its own shares.
This Is Sharplink’s First ETH Buy Since October
Sharplink’s latest purchase, made at an average price of $1,611 per ETH, lifted total holdings to 886,725 ETH worth roughly $1.38 billion as of June 28.
The disclosure ends an eight-month gap in publicly announced purchases, though onchain analyst EmberCN had flagged a separate 5,000 ETH buy through FalconX last week that Sharplink hadn’t confirmed at the time.
“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,” said Sharplink CEO Joseph Chalom.
