SharpLink Gaming announces $15 million share buyback amid Ether holdings

SharpLink Gaming has announced a $15 million buyback of its own shares, which it believes are currently undervalued. The move is particularly notable given the company’s treasury includes holdings in Ether—adding a crypto twist to a classic corporate strategy and raising questions around funding, liquidity, and market signaling.

How the buyback works

The buyback will reduce the number of shares available, potentially boosting the share price. However, the company hasn’t clarified where the $15 million will come from: existing cash, new debt, or the sale of its digital assets like Ether. Each option carries different risks—using cash preserves crypto holdings, selling Ether could impact its market price, and taking on debt alters the firm’s financial profile.

Why they’re doing it

Share buybacks are often used to show confidence and improve financial metrics like earnings per share. In this case, SharpLink may also be aiming to shield its book value from Ether’s volatility or rebalance its reserves to better weather market uncertainty. It’s a strategic move to optimize the company’s capital structure using assets management sees as undervalued.

On-Chain and Governance implications

If SharpLink funds the buyback by selling Ether, it could increase selling pressure on the token and shift the composition of the company’s reserves. Additionally, reducing the number of shares strengthens the influence of remaining shareholders and may shift governance dynamics. Markets will be watching closely to see this as a sign of proactive—and perhaps crypto-savvy—treasury management.