Sharplink, the Ethereum treasury company, reported strong financial results for the third quarter of 2026. The company's revenue reached $13.5 million, marking a 24% year-over-year increase. Net income surged to $751.4 million, up from $104.3 million in the same period last year. This significant growth was primarily driven by $676.7 million in unrealized gains on the company's ether holdings and $75.2 million in realized crypto gains.
As of September 30, 2026, Sharplink held approximately 892,708 ETH. The company completed a $200 million ETH staking allocation through Lido and began deployments through its $125 million Galaxy Sharplink Onchain Yield Fund. CEO Joseph Chalom emphasized the company's focus on maximizing the productivity of its ETH holdings and supporting the broader Ethereum ecosystem.
Total revenue increased 24% quarter over quarter to $13.5 million, slightly beating estimates. Staking revenue grew 27% to $13.1 million. The company's cash and cash equivalents totaled $47.9 million, up from $28.5 million as of December 31, 2025. Overall crypto assets totaled approximately $2.1 billion as of September 30, valued in accordance with U.S. GAAP measures.
Joseph Lubin, Sharplink chairman and cofounder of Ethereum, highlighted the company's position to participate in Ethereum’s continued growth through its actively managed ETH treasury. Despite the positive financial results, SBET shares traded around $6.20 at publication time, little changed on the day. The stock is down 36% year to date.