PANews reported on August 22nd that SharpLink Gaming, Inc. (NASDAQ: SBET) announced that its board of directors has approved a share repurchase program of up to $1.5 billion to optimize capital allocation and support market performance. SharpLink is one of the world's largest corporate holders of Ethereum (ETH) and is committed to driving widespread adoption of the Ethereum ecosystem.

The program aims to avoid diluting the value of each share of Ethereum by repurchasing shares in the event that the company's stock price falls below the net asset value (NAV) of its Ethereum holdings. Repurchases will be made through open market purchases, privately negotiated transactions, or other legally binding means, depending on factors such as market conditions, stock price, and trading volume. The program may be suspended or terminated at any time.