0
0
Generated News

SharpLink Stock Tumbles 15% After Reporting Q2 Loss

The Ethereum treasury firm’s shares fell as heavy non-cash write-downs hit profitability.
0
0
Aug 15, 2025 • 1 min read

SharpLink Gaming’s shares slid after the company reported a $103 million net loss for the second quarter, though most of that headline number was tied to a non-cash accounting hit rather than operational losses.

What’s the Scoop?

  • Loss Driven by Accounting Rules: Of the $103 million loss, $87.8 million was tied to a GAAP requirement forcing SharpLink to value liquid staked ETH at the lowest market price during the quarter — even though ETH has since rebounded sharply.
  • Stock-Based Charges: The quarter also included $16.4 million in stock-based compensation linked to its Consensys advisory deal.
  • Strategic Pivot: This is SharpLink’s first earnings release since rebranding as an Ethereum treasury play. The company ended Q2 with 728,804 ETH, worth over $3.2 billion at current prices.
  • Market Reaction: Shares fell nearly 15% intraday as investors weighed the accounting-driven loss against the firm’s growing Ethereum reserves.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

There’s a revolution in the world of money. Ethereum, Bitcoin, crypto, open finance, DeFi—a bankless revolution. And you want part of it.