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SharpLink has not increased its Ethereum holdings in the past week, possibly due to its stock buyback program.
BlockBeats News, September 10th: Ethereum reserve company SharpLink Gaming (SBET) has slowed down its accumulation pace, not adding any Ethereum in the past week. Currently, its holdings remain at 837,230 ETH, consistent with the data observed on September 3rd.
On the other hand, a similar company, Bitmine, has accelerated its Ethereum accumulation pace. It now holds a total of 2.07 million ETH, adding 206,900 ETH in the past week.
BlockBeats previously reported that on September 9th, SharpLink had started executing a $1.5 billion share buyback plan, repurchasing approximately 1 million shares of SBET. SharpLink stated that they believe their stock is significantly undervalued. By repurchasing shares when the Net Asset Value (NAV) is below 1, they will immediately boost earnings and bring compounding benefits to long-term shareholder value.
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