SharpLink Gaming, a titan of Ether’s corporate realm, has deigned to authorize a stock buyback program of $1.5 billion, as if the universe’s whims demanded it. The announcement, made on a Friday (naturally, when markets yawn), claims this is part of a “disciplined capital markets strategy.” Yet no shares have been repurchased-perhaps the universe is still deliberating.
Co-CEO Joseph Chalom, a man who speaks with the confidence of a poet quoting Tolstoy, declared the firm will consider buybacks when its stock trades at or below the net asset value of its Ether holdings. “This program provides us with the flexibility to act quickly and decisively,” he added, as if fate itself would pause to let him breathe.
The strategy? Accumulate and stake Ether, then watch the ETH-per-share metric bloom like a rose in a desert of despair. Repurchasing shares, they claim, will “boost” this ratio. One might say it’s less a strategy and more a prayer to the Ethereum gods.
SharpLink’s All-In on Ether
The betting platform, in a move as bold as a Cossack in a monocle, transitioned to an Ethereum-based treasury and appointed Joseph Lubin, co-founder of Ethereum, as chairman. “ETH will serve as the Company’s primary treasury reserve asset,” they proclaimed, as if declaring allegiance to a new religion.
Lubin, in early July, waxed poetic about ETH treasuries being “crucial for the development of the Ethereum ecosystem.” He called such companies “a great business to run,” while also stating, with the gravity of a man predicting the end of the world, that “supply-demand dynamics of Ether must right-size as we build more applications.” One wonders if he’s ever built a house.
Despite its Ethereum fervor, SharpLink’s treasure chest pales next to BitMine’s $6.47 billion ETH hoard. SharpLink, with its $3.14 billion, clings to a nearly $600 million unrealized gain-like a drunkard clinging to a lamppost. If only Ether’s price gains were as reliable as a Russian winter.
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2025-08-22 17:25