The post Sharplink sees unrealized losses of $36 million on its ETH holdings appeared on BitcoinEthereumNews.com.

Gaming company Sharplink is at a $36 million loss despite increasing its ETH stash. This follows the recent decline in ETH value, with the token falling more than 6% in the last 30 days amidst market uncertainties. On-chain analyst Ember CN shared the development on X, noting that the company bought another 5,989 ETH worth $14.47 million on June 26. With its latest acquisition, Sharpink has 194,000 ETH, worth around $507 million. The company purchased its ETH at an average price of $2,611, slightly below the current price of $2,474. However, the sizable accumulation of ETH by the company is impressive given that it has been less than a month since it transitioned to an Ethereum treasury company after closing a $425 million funding round led by Consensys. However, the Sharplink is far from done with its accumulation, given that a filing with the Securities and Exchange Commission (SEC) last month shows that it has plans for another $1 billion raise, with all the funds expected to go towards accumulating ETH. Since its first purchase using funds raised from the funding round, Sharplink has been using proceeds from the sales of its shares through its at-market offering to buy more ETH. The company has also been staking all its ETH holdings to earn more Ether. Corporations showing interest in altcoin treasuries Meanwhile, the continued accumulation by Sharplink is likely part of its goal to become the biggest corporate holder of ETH in its reserves. Given its current stash, it appears to have already achieved that, especially since only a few companies have an Ethereum treasury. While it might be the one with the biggest ETH treasury, Sharplink was not the first public company to consider ETH as a treasury asset, with BioNexus Gene actually releasing an Ethereum Strategy Whitepaper back in…

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Filed under: News - @ June 26, 2025 9:29 pm