SharpLink's Q3 Net Income Hits $104 Million as ETH Treasury Pays Off

Overview

• Revenue rose to approximately $10.8 million for Q3 2025, up more than 1,100% year over year, as net income reached about $104.3 million, or $0.62 per diluted share.
• Management attributes the turnaround to near‑full deployment of its Ethereum treasury into staking and restaking via partners ether.fi and EigenCloud.
• ETH holdings increased from about 817,747 on September 30 to 861,251 as of November 9, with total crypto assets reported at roughly $3.0 billion alongside $11.1 million in cash and $26.7 million in USDC.
• A phased $200 million allocation is being deployed to Consensys’ Linea to target enhanced on‑chain yields within Ethereum’s Layer‑2 ecosystem.
• Capital actions included a $76.5 million registered direct offering priced at a 12% premium and buybacks of 1,938,450 shares for $31.6 million under a $1.5 billion authorization, alongside new executive hires to scale the strategy.