SharpLink adds 10,000 ETH, holdings reach about 886,725
The Nasdaq-listed Ethereum treasury company said its latest ETH purchase was its first officially announced buy in eight months and said cumulative share buybacks have now topped 4.06 million shares.
SharpLink, the Nasdaq-listed company trading under SBET that describes itself as an Ethereum treasury company, said it bought 10,000 ETH at an average price of $1,611 per token, lifting total Ethereum holdings to 886,725 ETH. The company said the transaction marked its first officially announced ETH purchase in eight months. SharpLink also said cumulative share buybacks have now exceeded 4.06 million shares, extending a strategy it has said is designed to increase the amount of ETH backing each share. The update adds to earlier disclosures that the company had recently resumed Ethereum accumulation after a long pause and had paired ETH purchases with stock repurchases as Ether remained under pressure.
- Ethereum treasury company: A company that holds ETH as a core balance-sheet or treasury asset.
- buyback: A company's repurchase of its own shares, which reduces shares outstanding.