Sharplink Stakes Out $11M in Q2 Earnings Amid Crypto Losses

Nasdaq-listed company Sharplink generated $11.5 million in revenue from its Ethereum (ETH) treasury strategy in Q2, a significant increase from $697,000 in the same period last year.

The majority of this revenue came from staking, which produced $11.2 million for the quarter.

However, despite this growth, Sharplink reported a net loss of $394.3 million, compared to a $103.4 million loss in Q2 2022.

This large loss was primarily driven by non-cash charges related to its crypto portfolio, including a $321 million unrealized loss on ETH assets held at fair value due to a decline in ETH prices.