{"id":46554,"date":"2025-09-09T13:16:58","date_gmt":"2025-09-09T13:16:58","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=46554"},"modified":"2025-09-09T13:16:58","modified_gmt":"2025-09-09T13:16:58","slug":"ether-treasury-company-sharplink-gaming-buys-back-15m-in-undervalued-shares","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=46554","title":{"rendered":"Ether Treasury Company SharpLink Gaming Buys Back $15M in &#8216;Undervalued&#8217; Shares"},"content":{"rendered":"<div>\n<p>SharpLink Gaming (SBET), a Nasdaq-listed ether (ETH) treasury firm helmed by Ethereum co-founder Joe Lubin, said on Tuesday it has bough back $15 million worth of shares, noting the stock&#8217;s market cap is below the company&#8217;s $3.6 billion in ETH holdings.<\/p>\n<p>The Minneapolis-based firm repurchased about 939,000 shares at an average price of $15.98 as part of its share buyback program, <a href=\"https:\/\/investors.sharplink.com\/sharplink-begins-utilizing-its-share-buyback-program-and-reaffirms-commitment-to-long-term-stockholder-value\/\">according to a press release<\/a>.<\/p>\n<p>&#8220;The Company believes its common stock is significantly undervalued in the market and believes buybacks represent a compelling investment that underscores confidence in its long-term strategy and growth prospects,&#8221; said SharpLink.<\/p>\n<p>The stock was up 3.6% in pre-market trading on Tuesday alongside this news and more than a 1% rise in the price of ETH since yesterday&#8217;s close.<\/p>\n<p>SharpLink holds about $3.6 billion worth of ETH with nearly all of its holdings staked, providing an income stream, the firm said. The stock currently <a href=\"https:\/\/www.sharplink.com\/eth-dashboard\">trades<\/a> at a 0.87 multiple of net asset value (mNAV), according to SharpLink dashboard, limiting  its ability to raise funds by selling shares for ETH purchases as part of its strategy.<\/p>\n<p>Executives said that the firm has not tapped its at-the-market facility to sell shares while trading below net asset value, noting such moves would dilute ETH holdings per share, a key metric for the firm.<\/p>\n<p>Digital asset treasury firms <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/09\/04\/crypto-treasury-names-hammered-further-as-nasdaq-reportedly-ups-scrutiny\">plunged<\/a> sharply over the past weeks as crypto markets cooled off. Rival digital asset treasury firm <a href=\"https:\/\/www.coindesk.com\/business\/2025\/09\/08\/bitmine-now-holds-usd9b-in-crypto-treasury-fuels-1-000-surge-in-wld-linked-stock\">BitMine<\/a> (BMNR), which holds nearly $9 billion in ETH, also fell below the 1 mNAV threshold.<\/p>\n<p>BMNR and SBET have each decline about 60%-70% since their July highs.<\/p>\n<p><strong><em>Read more: <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/09\/08\/asia-morning-briefing-btc-treasury-demand-is-weakening-cryptoquant-cautions\">Asia Morning Briefing: BTC Treasury Demand Is Weakening, CryptoQuant Cautions<\/a><\/em><\/strong><\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>SharpLink Gaming (SBET), a Nasdaq-listed ether (ETH) treasury firm helmed by Ethereum co-founder Joe Lubin, said on Tuesday it has bough back $15 million worth of shares, noting the stock&#8217;s market cap is below the company&#8217;s $3.6 billion in ETH holdings. The Minneapolis-based firm repurchased about 939,000 shares at an average price of $15.98 as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-46554","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/46554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46554"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/46554\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}