SharpLink shares drop 12% on Q2 crypto impairment loss
SharpLink now holds $3.5 billion worth of ETH, maintaining its rank as the token’s second-largest corporate holder, according to its Q2 filing.
SharpLink Gaming, an online gaming company with the second-largest corporate Ether treasury, announced a net loss of $103 million for the second quarter of 2025, driven by a paper loss from accounting for liquid staked Ether (LsETH). The loss marks a steep drop from a $500,000 loss in the same period of 2024 — a year-over-year change of -25,980%.
According to a Friday announcement, SharpLink now holds 728,804 Ether (ETH) worth approximately $3.5 billion at this writing. The only publicly traded company with more ETH is BitMine Immersion Technologies, which holds a little more than 1.15 million ETH worth approximately $5.1 billion.
Of SharpLink’s Q2 loss, $87.8 million — or 85% — is related to the company’s LsETH. A SharpLink representative told Cointelegraph that the company still has all its LsETH and that the impairment “reflects accounting rules, not a sale or loss of ETH.”
