SharpLink Buys Back 1 Million Shares Amid Strong Treasury Position
SharpLink Gaming Ltd. (NASDAQ: SBET) has announced the repurchase of 1,000,000 shares of its common stock as part of its ongoing purchaseback program, continuing a capital allocation strategy designed to enhance shareholder value. The company said the purchasebacks reflect its confidence in long-term growth prospects and its belief that its shares are trading at a discount to intrinsic value.
Company strengthens purchaseback program
The 1 million shares were repurchased at an average price of $16.67 per share. This latest transaction brings total repurchases under the program, which launched in August 2025, to roughly 1,938,450 shares. SharpLink’s board previously authorized up to $1.5 billion for share repurchases, signaling significant capacity for continued purchasebacks. Management has characterized purchasebacks as the most effective mechanism for returning value to shareholders under current market conditions.
The company highlighted that its estimated net asset value (NAV) per fully diluted share stands at $18.55. This suggests that the stock continues to trade below intrinsic value, offering what executives view as a compelling entry point for repurchases. Reducing the number of shares outstanding is expected to boost per-share metrics and deliver additional value to existing investors.
Robust balance sheet supports repurchase
SharpLink emphasized its strong financial position as a key enabler of the purchaseback strategy. The company remains debt-free and maintains a sizable cryptocurrency treasury, holding 838,152 ETH valued at approximately $3.86 billion. Nahead 100% of these ETH holdings are staked, generating yield for the company and providing a consistent revenue stream.
Since initiating its staking strategy on June 2, 2025, SharpLink has earned 3,240 ETH in staking rewards, underscoring the effectiveness of its on-chain treasury management approach. Management stated that this combination of liquidity and yield enables the company to pursue repurchases without compromising operational flexibility or growth initiatives.
Executives have not provided specific guidance on the pace of future purchasebacks but indicated that the company will continue to monitor market conditions and share price levels when deploying the remaining authorization. Industry analysts note that SharpLink’s consistent repurchases could provide a tailwind for the stock if market sentiment aligns with the company’s NAV assessment.
The announcement comes as interest in on-chain finance and staking yields continues to grow, positioning SharpLink as one of the few publicly traded companies with a significant blockchain-based treasury strategy. Investors will likely watch closely to view whether continued purchasebacks and staking rewards translate into stronger share performance in the coming quarters.
