Johann Wilfred
Online marketing performance firm SharpLink Gaming has posted its Q2 earnings—figures that were unaudited at the time of reporting—on Friday after weeks of heavy accumulation of Ethereum. After the formal creation of an ETH treasury strategy, the company now holds 728,804 ETH as per an official press release by the company, which at current prices is valued at $3.24 billion.
SharpLink Gaming trails behind BitMine in ETH ownership
It trails behind BitMine Immersion Technologies in ETH assets, which is now considered the largest corporate holder of Ethereum.
The leadership team consists of Chairman Joseph Lubin and co-CEO Joseph Chalom, who was appointed in late July.
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“Our second quarter marked the exciting launch of SharpLink’s ETH treasury strategy, which has positioned us at the center of a transformational opportunity in global finance and technology. In the short period since launching our strategy, we’ve raised significant capital and scaled our ETH holdings in a highly accretive manner,” said Joseph Chalom.
Q2 2025 revenue was recorded at $0.7 million, down from $1 million in Q2 2024. SharpLink Gaming reported a net loss of $103.4 million for the quarter, with the company citing impairment and stock-based compensation as key drivers of the deficit in income, both of which were classified as non-cash expenses.
Impairment loss for digital intangible assets was $87.8 million, and overall stock-based compensation expense was estimated at $16.5 million.
The impairment loss comes from a loss of value in the company’s liquid staked Ethereum holdings.
Liquid staked ETH refers to an alternative form of staking ETH that allows for liquidity without having to fully lock in your Ethereum.
After all adjustments were made to net loss, operating cash flow was a negative value of $2.14 million. Cash flow from investing activities was also negative at -$406,319,197, primarily due to its huge purchases of digital assets.
“Ethereum is the trust layer for the decentralized economy, and SharpLink’s aggressive accumulation, staking and strategic management of ETH set it apart from any other public company in the market,” said Joseph Lubin.
Source: Google Finance
At the time of reporting, SharpLink Gaming shares were priced at $20.01, down by 14.83%.
