Intel stock extends gains after report of possible U.S. government stake
SharpLink Gaming (SBET) reported holding 728,804 Ether tokens as of June 30, 2025, following its strategic shift to establish ETH as its primary treasury reserve asset in early June.
The company reported a net loss of $103.4 million for the second quarter of 2025, compared to a net loss of $0.5 million in the same period last year. The loss was primarily driven by an $87.8 million non-cash impairment charge on liquid staked ETH holdings due to price declines during the quarter, as required by U.S. accounting rules.
Revenue decreased to $0.7 million from $1.0 million in the prior year quarter. Gross profit was $0.2 million, representing 30% of revenue, compared to $0.3 million or 28.5% in the second quarter of 2024.
The company raised over $2.6 billion in capital through various offerings to fund ETH acquisitions. SharpLink has staked nearly 100% of its ETH holdings, generating approximately 1,326 ETH in cumulative rewards.
Joseph Lubin, co-founder of Ethereum, joined as chairman of the board, while Joseph Chalom, a former BlackRock executive, was appointed co-chief executive officer. The company also entered into a strategic partnership with Consensys.
Operating expenses included $16.4 million in non-cash stock-based compensation related to the Consensys advisory agreement. The company also recorded a $2.4 million unrealized loss on ETH holdings, offset by a $5.4 million unrealized gain.
For the six-month period ended June 30, 2025, SharpLink reported revenue of $1.4 million compared to $2.0 million in the prior year, with a net loss of $104.4 million versus net income of $11.9 million in 2024.