Sharplink Posts $734 Million Loss as Ethereum Staking Revenue Soars
Sharplink reported a $734 million full-year loss, driven by a $616 million drop in Ethereum holdings and a $140 million impairment on staked Ethereum tokens, partially offset by a $55 million gain from token conversions. The company pivoted from sports gambling marketing to focus on holding and staking Ethereum, becoming the network’s second-largest corporate holder with 867,000 ETH, valued at $1.75 billion. Sharplink raised $3.2 billion in 2025 amid this shift. Staking revenue rose 50% quarter-over-quarter to $15.3 million, generating 14,500 ETH ($9.4 million). Despite short-term market volatility and a 55% drop in share price over six months, Sharplink’s strategy emphasizes long-term stability and increased ETH per share. Its cash and stablecoin holdings totaled $30.4 million at year-end. The company remains focused on expanding within Ethereum’s ecosystem and decentralized finance, positioning itself as a bridge between traditional markets and the growing institutional adoption of Ethereum.
