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9h ago

SharpLink Gaming Posts $103.4 Million Q2 Loss as Ethereum Reserves Hit 728,804 ETH

A GAAP write-down on liquid-staked ETH drove most of the loss despite no sales of SharpLink’s roughly $3.4 billion ETH reserve.

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Ethereum treasury SharpLink Gaming discloses 728,804 ETH holdings
Sharplink amasses over 728,000 eth with 1,300 eth in staking rewards

Overview

  • SharpLink disclosed holdings of 728,804 ETH valued at about $3.3–$3.5 billion, making it the second-largest corporate ETH treasury behind BitMine Immersion Technologies.
  • Since early June, the company has raised over $2.6 billion through PIPE deals, at-the-market programs and registered direct offerings to fund its Ethereum accumulation.
  • Nearly all of SharpLink’s ETH has been staked on the Ethereum network, generating approximately 1,326 ETH in compounded staking rewards.
  • The $103.4 million Q2 net loss was driven by an $87.8 million non-cash impairment on liquid-staked ETH and $16.4 million in stock-based compensation tied to its ConsenSys partnership.
  • SBET shares declined roughly 9–15% following the earnings release as investors weighed volatile accounting adjustments against SharpLink’s long-term ETH strategy.