SharpLink Boosts Its Ethereum Treasury with $252M ETH Acquisition

TLDR

• SharpLink Gaming acquired 56,533 ETH at an average price of $4,462 per token.
• The company now holds a total of 797,704 ETH, valued at approximately $3.7 billion.
• SharpLink’s ETH treasury strategy has successfully increased its holdings from 438,000 ETH since June.
• The company has earned 1,799 ETH in staking rewards since launching its ETH treasury strategy.
• SharpLink’s board approved a $1.5 billion stock buyback plan to enhance shareholder value.

SharpLink Gaming has further strengthened its Ether treasury, acquiring 56,533 ETH at an average price of $4,462 per token. The acquisition brings its total Ether holdings to 797,704 ETH, valued at approximately $3.7 billion. This move reflects the company’s continued commitment to building long-term value and supporting the Ethereum ecosystem.

SharpLink’s Growing ETH Treasury Strategy

SharpLink’s ETH treasury strategy has proven successful since its launch in June. The company has steadily increased its Ether holdings from 438,000 ETH to nearly 800,000 ETH in just a few months. This significant growth positions SharpLink among the largest corporate holders of Ethereum globally.

Joseph Chalom, Co-CEO of SharpLink, expressed confidence in the company’s strategy. “Our regimented execution of SharpLink’s ETH treasury strategy continues to demonstrate the strength of our vision,” he said. The company aims to leverage its growing Ether reserves to drive value for stockholders while supporting the broader Ethereum network.

SharpLink’s focus on Ethereum remains strong. The company revealed it has accumulated a total of 1,799 ETH in staking rewards since beginning the ETH treasury strategy. This emphasizes SharpLink’s dedication to both accumulating and utilizing Ethereum for future growth.

Buyback Plan Aims to Boost Shareholder Value

In addition to its crypto strategy, SharpLink’s board approved a $1.5 billion stock buyback plan. The plan aims to enhance shareholder value while the company continues investing in its crypto initiatives. This buyback plan further reinforces SharpLink’s commitment to increasing value for stockholders.

SharpLink’s stock recently closed at $0.96, marking a 6.8% decline before slightly rebounding in after-hours trading. Despite these fluctuations, the company’s strategy continues to gain traction in the market. Its decision to implement a buyback program highlights the firm’s focus on delivering long-term value.

The combination of increasing its Ether holdings and the stock buyback program signals SharpLink’s ongoing commitment to its financial strategy.

The post SharpLink Boosts Its Ethereum Treasury with $252M ETH Acquisition appeared first on Blockonomi.