SharpLink Gaming can repurchase up to $1.5 billion worth of common stock under a newly authorized repurchase program, the Ethereum treasury firm said in a blog post on Friday.

With a market cap of $3.5 billion, that would be almost half of the company’s value, but Co-Chief Executive Officer Joseph Chalom described the program as a potential resource for instances when the company’s shares trade a discount to its Ethereum holdings.

“In this scenario, the accretive course of action may be to repurchase our common stock,” he said in a statement. “This program provides us with the flexibility to act quickly and decisively if those conditions present themselves.”

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Author: André Beganski