Sharplink disclosed on Tuesday that it purchased 10,000 ETH and repurchased more shares under its ongoing buyback program, expanding one of the largest corporate ether treasuries in the public markets.

The Miami-based company said the latest acquisition increased its total ether holdings to 886,725 ETH as of June 28. The purchase was made at an average price of $1,611 per ETH, implying a transaction value of about $16.1 million, according to the company's statement.

The disclosure marks Sharplink's first publicly announced ether purchase in eight months. Last week, onchain analyst EmberCN reported that the company had acquired 5,000 ETH through FalconX, citing Arkham data, though Sharplink had not confirmed the transaction at the time.

Sharplink said its latest purchases reflect its continued commitment to expanding its ETH treasury as a long-term reserve asset. 

The company also announced the repurchase of 2,132,773 shares of its common stock in the open market at an average price of $4.69 per share. The buyback brings the company's cumulative repurchases to 4,071,223 shares since initiating the program in August 2025.

The update follows the completion of a $75 million registered direct offering of common stock and warrants during the week ended June 28.

"The successful completion of our $75 million registered direct offering last week has strengthened our balance sheet and provided the capital to support our active ETH treasury management strategy,” Sharplink CEO Joseph Chalom said. “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.”

Ether traded above $1,550 on Tuesday, down 1.09% over the previous 24 hours, according to The Block's ETH price page.

Sharplink shares (SBET) closed at $4.92 on Monday, up 2.29% on the session, but dropped to $4.78 in early trading hours on Tuesday, according to The Block's equities price page.