SharpLink’s Stock Slides 10% Amid $103M Loss on Staked ETH

- SharpLink stock drops 10% on $103 million Q2 2025 net loss. - Loss driven by an $87.8 million non-cash impairment on staked Ethereum. SharpLink Gaming (NASDAQ: SBET), an Ethereum treasury firm chaired by co-founder Joseph Lubin, reported a $103 million GAAP loss for Q2 2025, largely driven by impairments on its staked ETH holdings, which caused the company's share price to slide 10%. On August 15, 2025, The Block reported that the loss resulted primarily from an $87.8 million non-cash impairment charge. Under accounting regulations, SharpLink was required to recognize the lowest price at which ETH traded during the quarter. In Q2, ETH hit a low of $2,300—significantly below its recent rally surpassing $4,500. Following this disclosure, the company's stock dropped to $21.15 per share. Despite the impairment setback, SharpLink’s Ethereum reserves remain substantial, as the firm holds 728,804 ETH, valued at over $3.3 billion at current prices. The company has staked nearly all these holdings, which has generated 1,326 ETH in rewards so far, worth approximately $6 million. In a statement on August 15, SharpLink Chairman Joseph Lubin emphasized the company’s long-term Ethereum strategy, stating, “SharpLink is actively compounding value for our fellow stockholders through yield generation and intelligent capital deployment.” Company filings also revealed a 98% increase in “ETH Concentration,” a metric that measures the ETH held per 1,000 potential shares. Meanwhile, according to CoinMarketCap on August 15, Ethereum (ETH) was trading at $4,470.25 as of 15:09 UTC, although its 24-hour trading volume had declined by 4.58%.