09.09.2025 21:48

According to internet sources, SharpLink Gaming has initiated its previously announced $1.5 billion stock buyback program, as revealed in a recent announcement. As a first step, the company, headquartered in Minneapolis, Minnesota, has invested approximately $15 million to repurchase 930,000 of its own SBET shares, securing them at an average price of $15.98 each.

This move to buy back shares, initially authorized in August, reflects the company's strategy to boost stockholder value, according to SharpLink Co-CEO Joseph Chalom. The company aims to be the market leader in ETH treasury management. Chalom explained that SharpLink's strong financial position, characterized by a healthy balance sheet, lack of debt, and a thriving ETH treasury, puts them in an advantageous position to strategically allocate capital, including repurchasing shares to enhance stockholder value.

Despite holding the second-largest publicly traded Ethereum treasury, consisting of 837,230 ETH valued at approximately $3.6 billion, the market capitalization of SBET shares is only $3.14 billion, as per Yahoo Finance data. Chalom noted that under these circumstances, repurchasing common stock becomes an attractive strategy. Following the announcement, SBET shares experienced a surge of around 4.6% on Tuesday, reaching a trading price of $16.40. However, over the past month, SBET shares have decreased by 31%. During that same period, ETH has increased by 2.2%.