Sharplink reports strong revenue growth despite $394 million quarterly loss

Sharplink is expanding its role as both a major Ethereum treasury company and an investor in the network’s institutional infrastructure.

According to a Monday press release, the company held approximately 889,000 ETH by Aug. 3 and posted $11.5 million in second-quarter revenue, up more than 1,500% year-over-year.

Sharplink’s Ether-focused strategy suffered volatility during the quarter. The company recorded a $394.3 million net loss, including $321 million in unrealized losses caused by ETH market conditions and a $76.1 million impairment charge tied to LsETH and weETH.

Sharplink continues to accumulate ETH while returning capital through share buybacks. Since beginning its buyback program in August 2025, the company has repurchased more than 4 million shares for nearly $42 million.

The company is also using its treasury scale to deepen its Ethereum ecosystem involvement.

Sharplink will provide anchor funding to EthLabs, Ethereum Institutional and EthSystems, while a new $125 million onchain yield fund with Galaxy will pursue additional opportunities.

“We are excited by the growing momentum we are seeing across the Ethereum ecosystem. Institutional adoption is accelerating, onchain activity continues to expand and ETH has recently demonstrated meaningful outperformance versus other crypto assets,” Sharplink CEO Joseph Chalom said in a statement. We view improving market recognition as one of many signals reinforcing our belief that a new Ethereum era is taking shape.”