SharpLink has continued its aggressive accumulation of Ether, adding another 15,822 ETH, worth approximately $53.9 million, over the past several hours, according to onchain data.

The purchases were split across multiple transactions, with the largest single transfer totaling 6,914 Ether (ETH), valued at $23.56 million, according to data from Arkham Intelligence.

This new batch brings SharpLink’s reported total ETH holdings to 480,031 ETH, worth around $1.65 billion at current prices. The buying spree appears part of an ongoing 48-hour period where the company spent $108.57 million in USDC to acquire 30,755 ETH at an average price of $3,530.

The Ether Machine Adds $56.9M to Treasury

Last week, The Ether Machine inked its own large deal, acquiring 15,000 ETH for approximately $56.9 million acquired at an average price around $3,809 per ETH.

The Ether Machine now holds a total of 334,757 ETH, surpassing the Ethereum Foundation’s 234,000 ETH. The company ranks third among corporate holders by size, behind BitMine and SharpLink, according to StrategicETHReserve data.

Formed this year via a merger with Nasdaq-listed Dynamix Corp., The Ether Machine is targeting a $1.6 billion raise and a subsequent public listing under the ticker ETHM.

Corporate ETH Buying Spree Reflects Growing Confidence

According to NoOnes CEO Ray Youssef, corporations are accelerating their Ether purchases, viewing the network as essential infrastructure for the digital economy.

Youssef described Ethereum as a “hybrid between tech equity and digital currency,” increasingly appealing to treasury strategists focused on utility, not just passive storage.

Key factors attracting companies are ETH’s staking yield, programmability, and regulatory alignment. Ethereum currently hosts the majority of tokenized assets and stablecoins, commanding 58.1% of the $13.4 billion real-world asset market, highlighting its significance in tokenized finance.

With its growing dominance and enterprise use cases, Ethereum is rapidly becoming the reserve currency of choice for companies operating in tokenized finance.