$ETH SharpLink Gaming, a publicly traded treasury company, has repurchased $15 million of its own shares. This decision was made because the company believes its shares are "significantly undervalued" in the market.
The repurchase comes at a time when the price of SharpLink's shares has fallen by 60% since their July highs, dropping below the net asset value of its ether holdings. The company, which holds about $3.6 billion in ETH, believes that this repurchase is a solid investment and a sign of confidence in its long-term strategy.
This situation is not unique: other digital asset treasury companies, such as BitMine, have also seen their share prices fall below their net asset value due to the cooling of the cryptocurrency market.
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