Group 1 - Companies acquiring ether and other altcoins have seen significant stock price increases, with some stocks surging over 500% year-to-date [2][3] - Eightco Holding, Bitmine Immersion Technologies, and Sharplink Gaming are among the companies transitioning to crypto treasuries, purchasing various cryptocurrencies for their balance sheets [2][5] - The trend of companies acting as crypto proxies is gaining momentum, with a revival in altcoins potentially legitimizing these assets further [3][8] Group 2 - Bitcoin's market dominance has decreased from 65% in late June to approximately 56%, while ether's share has increased from around 9% to 13% [7] - The overall market share of non-stablecoins has risen from 19% to 24%, indicating a growing interest in altcoins [7] - Traders are increasingly buying stocks of companies with crypto treasuries as a way to gain exposure to cryptocurrencies without direct investment [6]

SharpLink Gaming Ltd., a leading provider of sports betting technology and solutions, announced it has begun utilizing its recently approved $1.5 billion share repurchase program. According to the company, it has already repurchased approximately 939,000 shares of its common stock at an average price of $15.98 per share. The announcement marks a significant step in SharpLink’s capital allocation strategy, aimed at reinforcing investor confidence and enhancing shareholder value.Initial repurchases under prog ...

Group 1 - SharpLink Gaming Inc. has initiated a $1.5 billion share buyback program, repurchasing approximately 939,000 shares at an average price of $15.98, totaling $15 million [1] - The company's stock gained 3.6% in pre-market trading following the buyback announcement, although it remains approximately 60% below its July highs [3] - SharpLink holds $3.6 billion in ETH, making it the second-largest corporate Ethereum holder, with nearly all of its holdings staked to generate revenue [5][6] Group 2 - The company views its stock as undervalued relative to its net asset value (NAV) and has not utilized its At-the-Market equity facility while trading below NAV to avoid dilution [2][6] - Management is focusing on disciplined capital allocation through share buybacks when shares trade at attractive valuations, using cash on hand and proceeds from staking operations [7] - The broader market dynamics have led to stock prices of Ethereum treasury firms falling below NAV due to reduced investor appetite for digital asset exposure [8]

Company Overview - SharpLink Gaming (SBET) is a Nasdaq-listed ether treasury firm led by Ethereum co-founder Joe Lubin, which recently repurchased $15 million worth of shares, indicating a market cap below its $3.6 billion in ETH holdings [1][3] - The firm repurchased approximately 939,000 shares at an average price of $15.98 as part of its share buyback program [1] Market Valuation - The company believes its common stock is significantly undervalued, and the buybacks reflect confidence in its long-term strategy and growth prospects [2] - The stock experienced a 3.6% increase in pre-market trading following the buyback announcement, alongside a more than 1% rise in the price of ETH [2] Financial Metrics - SharpLink holds about $3.6 billion worth of ETH, with nearly all holdings staked, generating an income stream [3] - The stock currently trades at a 0.87 multiple of net asset value (mNAV), which limits the firm's ability to raise funds through share sales for ETH purchases [3] Market Conditions - The firm has not utilized its at-the-market facility to sell shares while trading below net asset value, as such actions would dilute ETH holdings per share [4] - The digital asset treasury sector has faced significant declines, with firms like SharpLink and BitMine (BMNR) experiencing drops of approximately 60%-70% since their July highs [4]

MINNEAPOLIS, MN, Sept. 09, 2025 (GLOBE NEWSWIRE) -- SharpLink Gaming, Inc. (Nasdaq: SBET) (“SharpLink” or the “Company”), one of the world’s largest corporate holders of Ether (“ETH”) and prominent industry advocate of Ethereum adoption, today announced it has begun to utilize its share buyback program to drive long-term stockholder value. The Company believes its common stock is significantly undervalued in the market and believes buybacks represent a compelling investment that underscores confidence in i ...

Ethereum treasury company Sharplink got a muted response from investors when it told Decrypt last week that it’ll stake a portion of the $3.6 billion worth of ETH in its treasury on Linea once mainnet goes live. The company’s shares, which trade on the Nasdaq under the SBET ticker, are currently trading for $15.73, or 11% less compared to five trading days ago. And now, it’s been the case for a week that users on Myriad, a prediction market owned by Decrypt parent company DASTAN, are doubting that Sharpl ...

Group 1 - The cryptocurrency ecosystem stocks experienced a collective decline on Friday, with notable drops in various companies [1] - Bitcoin-related stocks such as Bit Digital (BTBT.US) fell by 1.77%, Hut 8 Mining (HUT.US) dropped over 4.5%, and MicroStrategy (MSTR.US) decreased by more than 1.8% [1] - Ethereum-related stocks like Bitmine Immersion Technologies (BMNR.US) saw a decline of over 5%, while SharpLink Gaming (SBET.US) fell nearly 6% [1] Group 2 - Cryptocurrency exchange Coinbase (COIN.US) experienced a decline of over 4%, and Robinhood (HOOD.US) dropped by more than 6% [1] - Stablecoin leader Circle (CRCL.US) saw a significant drop of over 7% [1]

Core Viewpoint - The cryptocurrency ecosystem stocks experienced a collective decline on Friday, with significant drops in various companies associated with Bitcoin and Ethereum [1] Group 1: Bitcoin-Related Stocks - Bit Digital (BTBT.US) fell by 1.77% [1] - Hut 8 Mining (HUT.US) dropped over 4.5% [1] - MicroStrategy (MSTR.US) decreased by more than 1.8% [1] Group 2: Ethereum-Related Stocks - Bitmine Immersion Technologies (BMNR.US) declined by over 5% [1] - SharpLink Gaming (SBET.US) fell nearly 6% [1] - Bit Digital (BTBT.US) also dropped more than 1.8% [1] Group 3: Cryptocurrency Exchanges and Stablecoins - Coinbase (COIN.US) saw a decline of over 4% [1] - Robinhood (HOOD.US) dropped by more than 6% [1] - Circle (CRCL.US), a leading stablecoin issuer, fell by over 7% [1]

Compliance & Operations - SharpLink Gaming confirms NASDAQ compliance [1] - No additional shareholder approval needed for ETH purchases via ATM program [1]

Compliance and Regulatory Status - SharpLink confirms full compliance with Nasdaq rules, negating the need for further shareholder approvals to execute its ATM program for ETH purchases [1] - The company emphasizes its commitment to compliance and transparency, ensuring all transactions align with Nasdaq rules and industry best practices [2] - SharpLink clarifies that recent media reports about some DAT companies potentially needing shareholder approval for new share issuance to buy crypto do not apply to them [1][2] Strategy and Capital Management - SharpLink's strategy remains focused on raising capital only when it is accretive for shareholders [1]