SharpLink Gaming, Inc. said Tuesday it repurchased 1 million shares of its common stock at an average price of $16.67 per share, marking the latest step in its stock buyback program launched in late August.
The Minneapolis-based company, listed on Nasdaq under the ticker SBET, has repurchased a total of 1.94 million shares this month, according to its weekly update ending Sept. 14. The company cited what it views as undervaluation of its shares as a driving factor behind the program.
Stock Buyback Program
SharpLink’s latest repurchase occurred on Sept. 15 and represents more than half of the shares acquired since the program began. The company said it plans to continue evaluating additional buybacks based on market conditions and cash available from operations or other financing sources.
As of Sept. 14, the company reported a net asset value of $3.86 billion, equal to about $18.55 per fully diluted share. SharpLink also reported no outstanding debt obligations.
Ethereum Treasury Strategy
SharpLink, one of the largest corporate holders of Ether, reported that its total ETH holdings rose to 838,152 tokens, valued at $3.86 billion. Nearly all of the holdings are staked, generating revenue for the company.
Since the launch of its treasury strategy on June 2, SharpLink said its staking rewards have totalled 3,240 ETH. Its ETH concentration level has increased nearly 98% over the same period, now standing at 3.97. Company executives have positioned Ethereum as central to its long-term strategy, pointing to increasing adoption of tokenisation and evolving regulatory clarity.
SharpLink Maintains Positive Ethereum Future
SharpLink said it expects to continue repurchasing stock, financed through cash reserves, operational income from staking activities, or alternative options. The company maintains that its strategy aims to balance shareholder returns with further concentration in digital assets.
“Ethereum is rapidly emerging as a cornerstone of the digital asset economy,” Co-CEO Joseph Chalom said in a statement. He added that SharpLink seeks to demonstrate how digital assets can be strategically deployed to create value.
