SharpLink Gaming just loaded up on another 19,271 Ethereum during this week’s price drop, pushing their total holdings to nearly 860,000 ETH worth about $3.5 billion. They bought at an average price of $3,892 per coin, taking advantage of what they called “attractive market conditions” after the recent sell-off.
This move came right after SharpLink raised $76.5 million through selling shares at $17 each, a 12% premium to where they were trading. They immediately turned around and used that cash to buy more Ethereum at lower prices, which their co-CEO Joseph Chalom said creates instant value for shareholders.
Ethereum’s been getting hammered lately, down 12% over the past month and trading around $3,860. Trump’s tariff threats against China haven’t helped, with potential 155% tariffs on Chinese goods looming for November 1st. But companies like SharpLink and BitMine are using the weakness to stack more ETH.
BitMine went even bigger last week, buying 379,271 ETH worth roughly $1.5 billion after the crash. They now hold over 3 million ETH, representing about 2.5% of all Ethereum in circulation.
According to Bitwise data, 95% of all corporate Ethereum holdings were bought just this quarter. There are now 69 companies holding a combined 5.74 million ETH worth around $23 billion; that’s nearly 5% of the total Ethereum supply sitting on corporate balance sheets.
Conclusion
SharpLink added 19,271 ETH at an average of $3,892, raising the total treasury to 859,853 ETH worth $3.5 billion, joining BitMine’s accumulation spree amid Ethereum’s price struggles.
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