SharpLink Buys Back 1M Shares As its ETH Treasury Expand

SharpLink Gaming has bolstered its Ethereum reserves while progressing with a massive $1.5 billion stock buyback initiative. The Minneapolis-based firm disclosed that it repurchased one million shares at an average price of $16.67, bringing total repurchases to 1.93 million shares worth nearly $32 million since August.

Alongside the buyback, SharpLink revealed that its Ethereum treasury now holds 838,152 ETH, valued at approximately $3.7 billion.

This figure includes 922 ETH acquired since August 31 and an additional 3,240 ETH earned through staking since June, representing $14.4 million in yield. The company emphasized that nearly all of its holdings are staked and that it carries no debt.

Despite these developments, SharpLink’s share price dipped 0.86% to $16.65 on Tuesday and is down over 19% in the past month. The firm said it only repurchases shares when its net asset value falls below 1. With NAV currently at 0.91x, management views the stock as undervalued relative to its Ethereum holdings.

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