- SharpLink posted $11.5 million in Q2 revenue, with ETH staking contributing $11.2 million despite a $394.3 million net loss.
- The company held 886,881 ETH on June 30 and increased its holdings to 888,938 ETH by August 3.
- SharpLink recorded $321 million in unrealized crypto losses and $76.1 million in non-cash asset impairment charges.
SharpLink reported a $394.3 million net loss for Q2 2026, despite revenue reaching $11.5 million. The company said ETH staking generated $11.2 million of that revenue, while unrealized crypto losses and asset impairments drove most of the quarterly loss.
ETH Staking Drives Quarterly Revenue
SharpLinkâs revenue rose from $0.7 million a year earlier as its ETH treasury strategy operated throughout the quarter. However, SG&A expenses also increased to $9.1 million from $2.4 million.
The company recorded $321 million in unrealized losses tied to ETH market conditions. Additionally, SharpLink booked $76.1 million in impairment charges on LsETH and weETH. According to SharpLink, those charges are non-cash accounting losses.
They did not reduce the number of ETH or ETH-equivalent tokens held. However, the impairments reduced the carrying value of LsETH and weETH under U.S. GAAP. SharpLink said those charges will not reverse if market prices recover.
SharpLink Raises ETH Holdings
SharpLink held 886,881 ETH on June 30, worth about $1.4 billion under U.S. GAAP. Holdings increased to 888,938 ETH by August 3. On June 23, the company completed a $75 million registered direct offering.
It issued 10,013,351 shares and accompanying warrants at $7.49 per share and warrant. SharpLink used part of the proceeds to buy about 10,000 ETH. The average purchase price was approximately $1,611 per ETH.
Meanwhile, the company repurchased about 2.1 million shares for roughly $10 million. Since August 2025, total repurchases reached 4,071,223 shares at an aggregate cost of $41.7 million.
SharpLink Expands Ethereum Initiatives
Chief Executive Officer Joseph Chalom said SharpLink continued deploying capital across treasury management and Ethereum ecosystem initiatives. Chairman Joseph Lubin also discussed support for EthLabs, Ethereum Institutional and EthSystems.
SharpLink plans to provide anchor funding to the three organizations. Their stated areas include protocol development, institutional engagement, scaling, interoperability, privacy and compliance infrastructure.
The company also joined the Russell 2000 and Russell 3000 indexes during the June 2026 reconstitution. After quarter-end, SharpLink announced the Galaxy SharpLink Onchain Yield Fund with $125 million in committed capital.
SharpLink committed $100 million, while Galaxy committed $25 million. Galaxy will manage investment sourcing, diligence, portfolio construction, oversight and risk management.
