SharpLink Gaming, part of the Ethereum Treasury, has initiated a $1.5 billion stock buyback program by repurchasing 930,000 shares of its common stock at an average price of $15.98, amounting to approximately $15 million. The company aims to maximize stockholder value, leveraging its robust balance sheet and significant ETH treasury, which totals 837,230 ETH valued at around $3.6 billion. Co-CEO Joseph Chalom stated that rather than issuing equity while trading below NAV, the company will focus on disciplined capital allocation, including share repurchases. Despite a 4.6% jump in SBET shares following this announcement, the stock has seen a decline of over 31% within the last month while Ethereum itself gained 2.2%. SharpLink recently bolstered its treasury by adding more than $176 million in ETH and continues to stake nearly all of its Ethereum holdings to generate revenue.

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