Key Notes
- The latest move from SharpLink aims at supporting the market and reinforcing long-term shareholder value.
- Following the buyback announcement, SBET shares jumped 5% in pre-market trading, recovering from a 30% correction.
- The buyback complements SharpLink’s recent $668 million Ethereum purchases, reflecting the firm’s disciplined capital strategy.
Nasdaq-listed SharpLink Gaming (NASDAQ: SBET), an Ethereum
ETH
$4 632
24h volatility:
9.2%
Market cap:
$560.11 B
Vol. 24h:
$43.65 B
Treasury firm, has authorized a massive $1.5 billion stock buyback program, sending the SBET share price soaring by 5% in Friday’s pre-market trading session.
The recent development boosts confidence in the company’s future plans.
SharpLink’s $1.5 Billion Stock Buyback Plan
SharpLink Gaming has announced a new stock buyback program aimed at strengthening market support and optimizing capital allocation.
This move also reinforces the company’s long-term commitment to sustainable shareholder value. The latest announcement comes following the company’s $668 million ETH purchases earlier this week.
Under the program, share repurchases may occur through open market purchases, privately negotiated transactions, or other methods allowed under applicable securities laws.
SharpLink stated that the timing and amount of buybacks will depend on market conditions, share price, trading volume, and other relevant factors.
However, the ETH Treasury made it clear that it is not obligated to repurchase a specific number of shares, and the program may be suspended or discontinued at any time.
Speaking on the development, Joseph Chalom, Co-Chief Executive Officer of SharpLink, said:
Following this news, the SBET stock, which corrected 30% over the past month, went up by 5%, eyeing a move past $19.
The stock remains up 133% since the start of 2025, supported by the company’s substantial Ethereum purchases over the past three months.
ETH Treasury Firms in Strong Race
ETH treasury firms like SharpLink Gaming and Bitmine Technologies are in a strong race with each other for the largest ETH holdings.
Currently, Tom Lee’s Bitmine enjoys the top spot with a massive 1.5 million in ETH holdings, all accumulated in just the last two months.
Amid this strong accumulation, the ETH price rallied by nearly 80% since June beginning. Currently, Ethereum is consolidating around $4,400 levels, and eyeing a potential breakout to $5,000 and beyond.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
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Source: https://www.coinspeaker.com/sbet-shares-jump-5-after-sharplink-1-5b-buyback/
