Sharplink (SBET), the second-largest corporate ether holder, purchased 5,000 ETH (≈$7.85 million) from FalconX on Thursday, its first ether inflow since October 2025. The purchase comes as ETH trades near $1,555, far below its average purchase price of ~$3,609, resulting in an estimated $1.79 billion unrealized loss on its 876,285 ETH holdings. Despite the downturn, Sharplink has expanded into ether staking and onchain yield strategies, reporting Q1 revenue of $12.1 million (vs. $742,000 a year prior). However, its stock has fallen 27% in the past month and 50% over six months, closing at $4.56 on Thursday. The company declined to comment on the transfer.

Key facts

• Sharplink bought 5,000 ETH ($7.85M) from FalconX, first inflow since October 2025.
• Holds 876,285 ETH (second-largest public corporate treasury), average cost ~$3,609.
• Unrealized loss estimated at $1.79B with ETH at ~$1,555.
• Q1 revenue surged to $12.1M from $742K; stock down 27% in month, 50% in 6 months.
• Company expanded into staking and onchain yield; backed Ethlabs nonprofit.