Ethereum Price Forecast: SharpLink reports loss as BitMine continues share buybacks and ETH acquisitions

​Ethereum price today: $1,870

• SharpLink recorded $394.3 million in Q2 losses following the decline in ETH prices.
• BitMine repurchased 3 million shares of its common stock and acquired 7,391 ETH last week.
• ETH is testing the 50-day EMA support after another rejection at the 100-day EMA.

SharpLink (SBET) reported $394.3 million in Q2 net losses following heavy declines in the crypto market, over a 3.5x decline from the $103.4 million losses in Q2 2025, according to a filing on Monday.

The losses comprise $321 million in unrealized crypto losses on its ETH holdings and $76.1 million in impairments on its liquid staking tokens LsETH and weETH. Its total revenue climbed to $11.5 million in the quarter, above $0.7 million a year earlier.

During the quarter, the company said it raised $75 million by issuing over 10.013 million shares of its common stock in a direct offering at $7.49 per share. The company leveraged part of the proceeds to acquire 10,000 ETH and repurchase 2.1 million shares at $4.70 per share. It also reported that it was added to the Russell 2,000 and Russell 3,000 indexes as part of the index's June 2026 reconstitution.

SharpLink ended the quarter with ETH holdings of 886,881 ETH as of June 30. Since then, its stash has increased to 888,938 ETH.

BitMine continues share buybacks and ETH acquisitions

BitMine Immersion (BMNR) repurchased 3 million shares of its common stock last week. That figure pushed the total buyback since July to 19.1 million shares under its previously approved $4 billion share repurchase program.

The company also acquired 7,931 ETH, bringing its total holdings to 5.805 million ETH worth .... at the time of writing. From that figure, BitMine has staked 5.067 million ETH with its Made in America Validator Network (MAVAN), an increase of roughly 150K ETH from last week. The company reported annualized staking revenues of $257 million from its stake.

BitMine Chairman Thomas Lee cited easing expectations of a rate hike as a potential sign of improvement in the crypto market.

"We are disappointed that the CLARITY Act will not see a Senate vote before the August recess, but financial markets seem more focused on the recent softer inflation and jobs data. The odds of a Sept. hike by the Federal Reserve have fallen to 40% from 75% two weeks ago," wrote Lee in a statement on Monday. "We expect easing financial conditions to be a tailwind for crypto."

BitMine also reported holdings of $180 million in Beast Industries, a $69 million stake in Eightco Holdings (ORBS) and total cash and marketable securities of $104 million.

SBET and BMNR traded at $6.18 and $18.10, respectively, both down 3.8% on Monday.

Meanwhile, US spot Ethereum exchange-traded funds (ETFs) recorded $244.9 million in net inflows last week, their largest since mid-April, according to SoSoValue data.

Ethereum technical analysis: ETH retests 50-day EMA

Ethereum recorded $49.58 million in liquidations over the past 24 hours, led by $43.34 million in long liquidations, per Coinglass data.

On the daily chart, ETH is stuck in a neutral mid-range configuration, holding near the 20- and 50-day Exponential Moving Averages (EMAs) at $1,884 and $1,862, while it remains capped by the broader 100-day EMA at $1,924, which together hint at a consolidative tone rather than a clean trend.

The 14-day Relative Strength Index (RSI) sits just under the 50 line, while the Stochastic Oscillator (Stoch) hovers in the low 40s, suggesting directionless momentum as buyers and sellers battle for near-term control.

On the topside, the first major resistance comes at the 100-day EMA near $1,924, with a more substantial horizontal cap at $1,961. Beyond that, higher resistance levels are seen at $2,172 and $2,431.

On the downside, immediate support is provided by the 50-day EMA at $1,862, with a stronger horizontal floor near $1,809. A break below there would expose deeper supports at $1,701 and $1,507, where longer-term buyers could attempt to reassert the broader uptrend.

(The technical analysis of this story was written with the help of an AI tool. Know more.)