Overview

• SharpLink repurchased about 939,000 shares for roughly $15 million at an average price of $15.98, initiating its authorized $1.5 billion program.
• The company holds approximately 837,230 ETH valued near $3.6 billion, with nearly all of it staked and generating income.
• Executives say they will avoid using the at-the-market facility while shares trade below NAV to prevent ETH-per-share dilution, noting the firm has zero debt.
• SBET rose roughly 3.6% to 4.6% on the buyback news but remains about 60% below July highs and is down roughly 31% over the past month while ETH gained about 2%.
• SharpLink told Decrypt it plans to stake a portion of its ETH on Linea once mainnet goes live, a move that drew a muted investor response as prediction market users increasingly doubt a 1 million ETH near-term target.