SharpLink Gaming Approves $1.5B Stock Buyback to Bolster Ether Treasury
SharpLink Gaming has authorized a $1.5 billion share repurchase program as part of what the company describes as a “disciplined capital markets” approach. The board’s authorization does not mean any shares have been repurchased yet; the program gives the company flexibility to act when market conditions meet its criteria.
Company leadership said buybacks would be considered when the stock is trading at or below the net asset value implied by SharpLink’s Ether holdings, a move intended to increase the firm’s Ether-per-share ratio if shares are purchased below that benchmark.
SharpLink has been pursuing an Ether-focused treasury strategy, accumulating and staking ETH to raise the amount of Ether represented by each outstanding share. The firm also named Ethereum co‑founder Joseph Lubin as chairman in late May and has signaled that Ether will be the company’s primary treasury reserve asset.
That strategy follows other public plans and statements from company leaders emphasizing the importance of ETH treasuries to Ethereum’s broader ecosystem and to the company’s long-term business model.
SharpLink currently ranks among the largest corporate Ether treasuries, holding roughly 740,800 ETH, valued at about $3.14 billion at recent prices. That places it behind the largest corporate holder, which holds around 1.5 million ETH. Thanks to recent Ether price gains, SharpLink is also sitting on a significant unrealized gain.
The $1.5 billion buyback is intended to be another tool for management to manage capital and increase shareholder value while continuing to concentrate on staking and growing the company’s Ether reserves.
