Catenaa, Friday, September 12, 2025- SharpLink Gaming, an Ethereum-focused treasury firm, has commenced its $1.5 billion stock buyback program, starting with the purchase of $15 million worth of SBET shares.
The Minneapolis-based company acquired 930,000 common shares at an average price of $15.98, marking the first repurchase since authorizing the plan in August.
Co-CEO Joseph Chalom emphasized the program’s focus on maximizing stockholder value while executing the firm’s vision as a leading Ethereum treasury.
He noted SharpLink’s strong balance sheet, zero debt, and robust ETH holdings as justification for disciplined capital allocation through share repurchases, especially while shares trade below net asset value.
SharpLink holds the second largest publicly traded Ethereum treasury, with 837,230 ETH valued at roughly $3.6 billion, compared with SBET’s $3.14 billion market capitalization.
Shares of SBET rose 4.6% on Tuesday to $16.40, though they remain down 31% over the past month, underperforming the firm’s Ethereum holdings, which gained 2.2% in the same period.
In addition to the buyback, SharpLink recently added $176 million in ETH to its treasury and continues to stake most holdings for revenue.
The firm is exploring staking on Ethereum Layer 2 network Linea and serves on the Linea Consortium, distributing LINEA tokens to ecosystem participants.
Analysts see the buyback as a strategic move to bolster investor confidence and unlock value from the undervalued shares while maintaining strong treasury operations.
SharpLink Gaming starts $1.5B stock buyback, acquiring $15M of SBET shares, leveraging its ETH treasury to boost shareholder value.
