SharpLink Gaming Bets Bigger on Ethereum With $1.5B Buyback
The move comes as the company leans harder into Ether as its core treasury reserve asset, seeking new ways to align shareholder value with its crypto-heavy balance sheet.
Instead of immediately executing purchases, SharpLink said the program will act as a “reserve tool” to be deployed when its stock price trades below the underlying value of its Ether holdings. Co-CEO Joseph Chalom explained that the plan gives the firm the ability to “strike when opportunities arise,” reinforcing its ETH-per-share ratio while rewarding long-term investors.
From Betting Platform to Ethereum Powerhouse
Only months ago, SharpLink formally transformed itself from a traditional betting platform into one of the largest corporate Ether holders. In May, it appointed Ethereum co-founder Joseph Lubin as chairman, signaling that its future was deeply tied to the growth of the Ethereum ecosystem.
Lubin has since argued that corporate treasuries built on ETH play a vital role in stabilizing Ethereum’s supply-demand dynamics as applications continue to expand. SharpLink echoed this view earlier in the summer when it acquired $667 million worth of Ether near peak prices, a move that demonstrated its willingness to accumulate aggressively regardless of short-term volatility.
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Position in the ETH Treasury Race
The firm now controls more than 740,000 Ether, valued at roughly $3.1 billion. That makes SharpLink one of the world’s largest Ether corporate treasuries, though it still trails BitMine — a former Bitcoin mining firm that pivoted into Ethereum — which has amassed 1.5 million ETH worth over $6.4 billion.
Even so, SharpLink is sitting on nearly $600 million in paper profits thanks to Ethereum’s latest price surge, giving it significant momentum as it pursues both its buyback and accumulation strategies.
A New Kind of Balance Sheet
What makes SharpLink’s approach unusual is not just the size of its Ether position but the way it integrates those holdings into corporate finance. By tying shareholder returns to Ethereum’s market performance, the company is effectively betting that Ether will function as both a reserve currency and a driver of equity value.
If the buyback is executed under the right market conditions, SharpLink could strengthen its position as a pioneer in blending corporate treasury strategy with crypto-native finance — setting a template for other firms considering similar moves.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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