Sharplink Gaming (Smet)Ether included in Nasdak (Eth) The Ministry of Treasury, which replaced the founder of Ethereum, Joe Lubin, said on Tuesday that it is restoring $ 15 million, noting that the maximum share in the market is less than $ 3.6 billion for the company at Eth Holdings.
The company, which is based in Minneapolis, has returned to about 939,000 shares at an average price of $ 15.98 as part of the shares resetting program, According to a press statement.
“The company believes that its shared shares are less than its value in the market and believes that re -purchases are a convincing investment that confirms confidence in its long -term strategy and growth prospects,” said Charlink.
The stock has increased by 3.6 % in pre -market trading on Tuesday, along with this news and more than 1 % increased in the ETH price since yesterday’s closure.
The company said that Sharplink has about $ 3.6 billion of ETH with almost all its property, providing an income flow. The arrow is currently Deals At 0.87 a double of the net value of the assets (MNAV)According to Sharplink Dashboard, limiting its ability to raise money by selling shares to buy ETH as part of its strategy.
Executive officials said that the company did not save its facility in the market to sell shares during trading without a net value of assets, noting that such movements will reduce holdings for each share, which is a major measure of the company.
Treasury companies digital assets Decline Severely over the past weeks, where the encryption markets have been cooled. Competitive digital assets company Portrait (BMNR)And, which owns nearly $ 9 billion in ETH, also decreased to less than the MNAV 1 threshold.
BMNR and SBET have every decrease of about 60 % -70 % since its highest levels in July.
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