Ether Treasury Sharplink Buys $62.4M of ETH in 3 Days

Crypto treasury company Sharplink resumed buying Ether last week after an eight-month pause, buying a total of $62.4 million worth of ETH since Thursday. Onchain data from Arkham shows it purchased 5,000 ETH on Thursday, another 5,000 ETH (worth $7.9 million) on Friday, and 29,196 ETH (worth $46.7 million) across three over-the-counter transactions on Saturday.

The three-day spree adds to evidence that Sharplink has revived its active Ether accumulation strategy. The company was once a close competitor to Bitmine as the world’s largest ETH treasury company. Sharplink declined to comment on the reason and timing of the Ether purchase when first contacted on Thursday.

The buys came the same week Sharplink and Bitmine backed a new research and development nonprofit called Ethlabs, formed to "ready Ethereum for the next phase of institutional adoption." The company joined Bitmine, Ethereum co-founder and Sharplink chairman Joe Lubin and other Ethereum contributors in backing the initiative.

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