SharpLink Reports $103.4M Loss but Holds 728,804 ETH in Treasury...

SharpLink Reports $103.4M Loss but Holds 728,804 ETH in Treasury..

SharpLink Gaming Posts $103.4M Q2 Loss, Holds 728,804 ETH in Treasury Reserves.

SharpLink Gaming (NASDAQ: SBET) revealed it is holding 728,804 Ethereum (ETH) tokens as of June 30, 2025, after shifting its treasury reserve strategy in June to make ETH its primary asset.

📉 $103.4 Million Net Loss in Q2 2025..

The company reported a net loss of $103.4 million for Q2 2025, compared to just $0.5 million in the same quarter last year. The steep loss was largely due to an $87.8 million non-cash impairment charge on its liquid staked ETH, triggered by price declines in line with U.S. accounting standards.

Revenue fell to $0.7 million, down from $1.0 million in Q2 2024, while gross profit came in at $0.2 million (30% margin) versus $0.3 million (28.5% margin) a year ago.

💰 Capital Raised and ETH Staking Rewards..

To fund its ETH acquisitions, SharpLink raised over $2.6 billion through multiple offerings. Nearly all of its ETH holdings are staked, generating 1,326 ETH in cumulative rewards to date.

🔑 Leadership & Partnerships..

Joseph Lubin, Ethereum co-founder, joined as chairman of the board.

Joseph Chalom, former BlackRock executive, was appointed co-CEO.

The company announced a strategic partnership with Consensys.

Operating expenses included $16.4 million in non-cash stock-based compensation tied to the Consensys advisory deal. SharpLink also reported a $2.4 million unrealized loss on ETH holdings, offset by a $5.4 million unrealized gain.

📊 Six-Month Performance (H1 2025)

Revenue: $1.4 million (vs. $2.0 million in H1 2024)

Net Loss: $104.4 million (vs. net income of $11.9 million in 2024)

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