Ethereum Firm Sharplink Posts $686 Million Loss, Kicks Off $125M Yield Fund With Galaxy
Sharplink, a publicly traded Ethereum treasury firm, reported a Q1 net loss of nearly $686 million, with $507 million attributed to unrealized losses from its Ethereum holdings. This marks a sharp increase compared to a $1 million net loss in the same quarter last year. Despite the loss, revenues grew substantially from less than $1 million in Q1 last year to over $12 million in 2026, driven by gains from its staked Ethereum. Sharplink announced plans for a $125 million on-chain yield fund in partnership with Galaxy Digital, with $100 million from Sharplink and $25 million from Galaxy, aiming to pursue high-yield opportunities in blockchain-based markets. Galaxy will handle protocol selection, exposure sizing, and ongoing monitoring. Sharplink (SBET) shares are up 2% on the news, currently at $7.59, but remain down 34% over six months despite gaining 16% in the past month. Galaxy Digital (GLXY) shares are up around 2.3% today and 43% over the past month. Ethereum is trading at about $2,329, down 0.5% in the last day.
