SharpLink Suffers $394M Loss as Ethereum Price Plunges
SharpLink, the second-largest Ether treasury company, reported a net loss of $394 million for Q2 2026. This significant loss is attributed to the decline in Ethereum's price during the same period.
The Miami-based company generated $11.5 million in revenue, including $11.1 million from ETH staking. However, it incurred $321 million in unrealized crypto losses and $76 million in impairments on staked Ether tokens.
Cash and cash equivalents totaled $56 million at the end of Q2 2026, a significant increase from $28 million in December 2025. SharpLink holds a substantial amount of ETH, with 632,784 units worth $1.2 billion and 181,321 liquid staked Ether tokens valued at $343 million.
Ether's price fell around 23% during Q2 2026, causing significant losses for SharpLink. The company has resumed its ETH purchases, buying $7.8 million worth in late June and an additional 10,000 units for about $16 million shortly after.