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The Sharplink buyback program has officially commenced marking a significant milestone for SharpLink Gaming Inc. As one of the largest corporate holders of Ethereum, the company has started deploying its $1.5 billion share repurchase initiative.
Under the buyback program, approximately 939,000 shares of common stock were repurchased at an average price of $15.98 reflecting management’s conviction that the stock remains undervalued.
Central to the buyback program is the company’s robust financial position. SharpLink currently holds around $3.6 billion in Ethereum, with nearly all of it staked and generating substantial revenue.
The absence of outstanding debt further strengthens the company’s balance sheet allowing the buyback program to prioritize shareholder returns while safeguarding future growth opportunities.
“With a powerful ETH treasury generating income, we are in a position of strength,” stated Joseph Chalom,
Co-CEO of SharpLink, underscoring the strategic rationale behind the buyback program.
The buyback program is part of a broader disciplined capital allocation strategy. SharpLink has confirmed that it has not utilized its At the Market (ATM) facility while the stock trades below Net Asset Value (NAV) as such actions would dilute ETH per share. Instead, the buyback program focuses on accretive share repurchases reserving the right to use the ATM only if market conditions become favorable.
Management reiterated that the Sharplink buyback program is designed to enhance stockholder value while maintaining long term exposure to Ethereum.
As a pioneer in adopting Ethereum as its primary treasury reserve asset SharpLink has positioned itself as a leading advocate for ETH adoption. The Sharplink buyback program aligns with the company’s long term vision providing transparency through it’s ETH dashboard which offers investors insights into holdings, staking income and market adjusted NAV.
“Maximizing stockholder value remains our top priority as we execute on our vision of being the most trusted ETH treasury company in the market,”Chalom added, reinforcing the strategic importance of the buyback program.
The Sharplink buyback program has played a stabilizing role amid recent volatility in SharpLink Gaming Inc. (Nasdaq: SBET) shares. Over the past six months, the stock surged 244%, rising from just above $4 in March to nearly $80 in June 2025. However, after peaking in June, the stock corrected sharply trading closer to $20 by early August and consolidating around $15–16 into September.
This volatility highlights the speculative nature of SharpLink’s ETH linked strategy and the broader crypto market sentiment. The Sharplink buyback program has provided a measure of price support, with the first repurchase of nearly 1 million shares at an average price of $15.98 signaling management’s confidence.
The Sharplink buyback program’s impact is evident in recent trading activity. Pre market trading on September 9 shows shares at $16.20 (+3.38%), suggesting that investors view the Sharplink buyback program as a strong vote of confidence from management.
The buyback program stands as a cornerstone of SharpLink’s strategy to maximize shareholder value, leverage its Ethereum treasury and reinforce its position as a leader in ETH adoption. By executing disciplined capital allocation and maintaining transparency, the buyback program aims to deliver sustainable growth and stability for investors.
