SharpLink Gaming Inc. (Nasdaq: SBET), a company that’s basically just holding onto a bunch of Ethereum while pretending it’s a “treasury company” (because who doesn’t want to sound sophisticated?), has decided to flex its financial muscles with a $1.5 billion share buyback program. On Tuesday, they repurchased 939,000 shares at $15.98 apiece, totaling $15 million. For context, that’s about what it would cost to buy a small island and name it after their CEO’s cat. 🐱
The Ethereum
ETH
$4 287
24h volatility:
0.4%
Market cap:
$517.33 B
Vol. 24h:
$27.85 B
treasury company, which holds $3.6 billion in ETH with zero debt (because why pay interest when you can just sit on crypto and hope?), claims its stock is undervalued. Co-CEO Joseph Chalom, whose name now rhymes with “Chalo-mania,” insisted that buying back shares is “immediately accretive” to shareholders. Translation: We’re throwing money at this problem until it dies. 💸
NEW: SharpLink begins utilizing its $1.5B share buyback program, repurchasing ~1M shares of $SBET.
We believe our stock is significantly undervalued. Buying back stock at NAV < 1 is immediately accretive and compounds long-term stockholder value.
Key facts:
– $3.6B of $ETH on…
– SharpLink (SBET) (@SharpLinkGaming) September 9, 2025
SBET shares, which are currently trading at a price that makes you wonder if they’re confused about their own value, gained 3.6% in pre-market trading. As of September 9, they were hovering near $16.53-a 5.68% jump from the previous day. But let’s not get too excited; they’re still 60% below their July highs. It’s like if you bought a house for $1 million, it peaked at $2 million, and now it’s back to $800k. Classic. 🏠➡️📉
Trading volume hit 20.4 million shares on September 8, which is about as thrilling as watching paint dry-if the paint was making you money. The company’s market cap is $3.209 billion, which is still a discount compared to its ETH holdings. Basically, they’re selling the Mona Lisa for the price of a poster and calling it a “strategic move.” 🎨
Nearly 100% of SharpLink’s $3.6 billion ETH is staked, generating revenue like it’s 2009 and they’re the only ones who remember what Bitcoin is. 🤷♂️ They hold 837,230 ETH tokens, making them the second-largest corporate Ethereum holder. Behind them is Bitmine Technologies, which is probably just a guy in his mom’s basement with a really good GPU. 🖥️
We’ll figure it out as we go. 🚀
The company’s strategy is a textbook example of “buy low, sell high”-except the “low” is relative to a pile of Ethereum that’s doing the cha-cha in staking contracts. It’s a reminder that in the world of crypto treasuries, sometimes the best way to grow your fortune is to act like you know what you’re doing. 🎩
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2025-09-10 06:29