Ethereum Update: SharpLink (SBET) Pauses Accumulation at 837,230 ETH During $1.5B Buyback as Bitmine Surges to 2.07M ETH
ETH/USDT
$37,939,871,804.04
$2,293.99 / $2,068.20
Change: $225.79 (10.92%)
+0.0040%
Longs pay
COINOTAG reported that SharpLink (SBET) has paused its Ethereum accumulation, leaving reserves unchanged at 837,230 ETH since September 3, reflecting a temporary halt in on‑chain purchases over the past week.
By contrast, miner Bitmine accelerated its accumulation cadence, raising its balance to 2.07 million ETH after adding 206,900 ETH in the last seven days, underscoring divergent capital allocation strategies among institutional crypto reserves.
SharpLink has concurrently executed a $1.5 billion share buyback, repurchasing about 1 million shares of SBET. Management indicated the stock was undervalued and said repurchases while NAV is below 1 are intended to produce immediate earnings accretion and compound long‑term shareholder value.