Ethereum Treasury Sharplink Gaming (SBET) has started using its $ 1.5 billion repurchase program, starting with the purchase of SBET shares of $ 15 million. “Maximizing the shareholder value remains our highest priority when we run on our vision of being the most reliable ETH Treasury Company on the market,” said Sharplink Co-CEO Joseph Chalom in a statement.
“With a robust balance sheet, zero debt and a powerful ETH tax chamber that generates income, we are in a strength. We believe that the market currently underestimates our operations, and rather than issuing equity when we trade under NAV, we are focused on disciplined capital distribution – including share repurchases – to increase the shareholder’s value.” Sharplink Gaming maintains the second largest listed Ethereum Treasury with 837,230 ETH valued at approximately $ 3.6 billion.
Ethereum is currently one of the leading market assets and receives a steady price increase on the go. Token has become a center for the leading marketing activity as companies continue to explore ETH at a rapid pace. Companies have proclaimed Ethereum as one of the tokens that can deliver fantastic winnings and knocks on the fact that the chain can become a center for Stablecoin deployment and infrastructure in the near future.
Shares of SBET jumped about 4.6% on Tuesday in the middle of the announcement, but has decreased by 30% over the past 30 days. Digital asset fund companies threw themselves in recent weeks as the crypto markets cooled down. Rival Digital Asset Treasury company Bitmine (BMNR), which holds almost $ 9 billion in ETH, also fell into share value. At the same time, ETH is stable at the $ 4,287 mark.
