SharpLink repurchased 1 million shares of stock, deepening its Ethereum strategy: ETH Holdings valued at $3.86 billion.

SharpLink Gaming Inc., as one of the largest Ethereum holders in the world, recently announced it will repurchase 1 million shares of common stock at a price of $16.67 per share. This is part of its stock repurchase program that was initiated in August 2025, with a total of 1.938 million shares repurchased to date. The company's management believes that the current stock price is undervalued, and the repurchase aims to create value for shareholders.

As of September 14, the company's net asset value (NAV) reached $3.86 billion (or $18.55 per share), with no outstanding debt. At the same time, SharpLink continues to deepen its Ethereum strategy, with its ETH holdings increasing to 838,000 since the implementation of its treasury strategy in June (valued at $3.86 billion), most of which has been staked to generate a yield of 3240 [ETH]https://www.gate.com/buy-ethereum-eth(. The company's Ethereum concentration has risen to 3.97, an increase of 98% since June, reflecting its long-term confidence in Ethereum as a cornerstone of the digital economy. Co-CEO Joseph Chalom emphasized that stock buybacks and ETH accumulation are synergistic strategies aimed at driving shareholder value through staking yields, capital appreciation, and ecosystem support, positioning SharpLink as the 'Ethereum version of MicroStrategy.'

) Buyback momentum strengthens

The latest buyback has brought SharpLink's total repurchased shares to 1,938,450 since the program started earlier this month. Executives stated that this decision reflects their belief that SharpLink stock is still undervalued, and that under current market conditions, stock buybacks are the best way to create value for shareholders. As of September 14, 2025, the company reported a net asset value (NAV) of $3.86 billion, approximately $18.55 per share, and confirmed that there is no outstanding debt.

Ethereum strategy deepening

SharpLink's balance sheet is increasingly dominated by Ethereum. Since adopting a dedicated treasury strategy on June 2, the company's total Ethereum holdings have increased to 838,152 coins, currently valued at $3.86 billion. Almost all of these assets have been staked, generating stable income.

In just over three months, the total staking rewards have reached 3,240 ETH, while SharpLink's Ethereum concentration has risen to 3.97, an increase of 98% since June. Management stated that the increasing concentration reflects the company's belief in Ethereum's core role in the digital asset economy.

CEO's firm belief: "Ethereum is the cornerstone"

SharpLink Co-CEO Joseph Chalom shared the long-term vision supporting the strategy. He explained that stock buybacks and Ether accumulation are complementary goals:

"Ethereum is rapidly becoming the cornerstone of the digital asset economy, with institutions announcing the tokenization of stocks and funds, regulators providing clearer global market rules, and central banks around the world preparing to ease monetary policy, its momentum is accelerating," Chalom said.

Chalom added: "By increasing our concentration of ETH, we are strengthening our commitment to align the long-term interests of SharpLink, Ethereum, and our shareholders, while demonstrating how to responsibly and strategically deploy digital assets to drive meaningful value creation."

Future Outlook

SharpLink is expected to continue buying back shares, with funding sources depending on market conditions, coming from available cash, income from staking activities, or alternative forms of financing.

As the ETH holdings approach 4 billion dollars, and shareholder returns are at the core, the company is positioning itself as a barometer for enterprise digital asset adoption.

positioning consolidation: "Ethereum version of MicroStrategy"

SharpLink has been likened to Michael Saylor's MicroStrategy (now renamed to Strategy), which is known for accumulating billions of dollars in Bitcoin. Since SharpLink began deploying its capital into Ether, this comparison has been inescapable.

Chalom said in an interview with Cryptonews: "Saylor has proven that over the years, you can have a publicly traded company that buys crypto assets, and that company can achieve a premium in value."

Chalom stated: "We are trying to do something very similar with Ethereum, which is to become a public treasury, raising funds from investors to purchase Ether, and allowing investors to participate in three things: capital appreciation, staking rewards, and supporting the ecosystem."

Conclusion

SharpLink demonstrates a mature paradigm of enterprise-level digital asset strategy through aggressive stock buybacks and Ethereum asset allocation. Its model of strengthening cash flow through staking yields, hedging inflation with ETH holdings, and pursuing capital appreciation mirrors MicroStrategy's Bitcoin strategy but places greater emphasis on the compliance and sustainability of the Ethereum ecosystem. This initiative not only highlights institutional recognition of Ethereum's core position in the "tokenized economy," but also provides a practical example for traditional enterprises exploring blockchain asset allocation. However, attention must still be paid to the potential impacts of macro policy fluctuations and ETH price risks on corporate finances in the future. If SharpLink can continue to balance shareholder returns with ecosystem investments, it may become a benchmark case for enterprises embracing the crypto economy.