SharpLink Gaming has authorized a $1.5 billion stock buyback program to boost its Ether holdings, with no repurchases made yet. The firm’s strategy focuses on accumulating and staking Ether to increase its ETH-per-share metric. Joseph Chalom, Co-CEO, stated they will act quickly if stock trades below net asset value.

Transitioning to an Ethereum-based corporate treasury, SharpLink Gaming appointed Ethereum co-founder Joseph Lubin as chairman. Lubin emphasized the importance of ETH treasuries for the Ethereum ecosystem, stating it is crucial for supply-demand dynamics. Despite not having the largest Ether treasury, SharpLink holds 740,800 Ether worth $3.14 billion.

Former Bitcoin mining-focused company BitMine holds the industry’s largest Ether treasury with 1.5 million Ether, valued at $6.47 billion. SharpLink Gaming’s Ether holdings are worth $3.14 billion, standing on an unrealized gain of nearly $600 million. The company’s strategy aims to increase its ETH-per-share metric through buybacks below net asset value.

Read more at Cointelegraph: SharpLink to Concentrate ETH with $1.5B Stock Buyback