SharpLink begins $1.5B buyback, repurchases 1M $SBET shares
Nasdaq-listed Ethereum treasury firm SharpLink has started a $1.5B buyback of SBET shares at an average price of $15.98 to close a valuation gap.
SharpLink initiated the program after its stock began trading at a discount to its net asset value (NAV), as announced by the company. The buyback program began with the repurchase of about 939,000 shares at an average price of $15.98, with additional purchases expected depending on market conditions.
According to SharpLink, the stock is undervalued, and buying back shares will enhance long-term stockholder value.
“SharpLink today stands in a position of strength – holding approximately $3.6 billion of ETH with no current outstanding debt. Even more compelling, nearly 100% of the $3.6 billion of ETH is staked, which is generating material revenue for the Company,” the announcement said.
Joseph Chalom, Co-CEO of SharpLink, said the company remains focused on its long-term Ethereum strategy, with maximizing stockholder value as its top priority. He added that SharpLink believes the market undervalues its business and is focused on disciplined capital allocation.
According to CoinGecko, SharpLink is the second-largest publicly traded company with an Ethereum-focused holding strategy, behind BitMine. The company established ETH as its primary reserve asset in early June 2025, following a $425 million private placement led by ConsenSys. By adopting this treasury policy, SharpLink aims to give investors exposure to ETH and support its role as digital capital. Joseph Lubin, founder of ConsenSys and co-founder of Ethereum, became Chairman of the Board.
As of September 10, 2025, SharpLink shares trade at $16.69, up 6.51% on the day. Despite the rebound, the stock remains under pressure, down around 25% over the past 30 days and roughly 60% below its July peak.
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