SharpLink FY2025 net loss $734.6M; revenue $28.1M; ETH per share 4.01

Sharplink, Inc.

Net loss $734.6M vs net income $10.1M in 2024; driven by $616.2M unrealized loss on ETH and $140.2M LsETH impairment.
Revenue jumped to $28.1M from $3.7M; Q4 staking revenue $15.3M, up 50% from Q3.
ETH holdings 864,597 as of Dec 31, 2025; ETH per share doubled to 4.01; total staking rewards 14,516 ETH since June 2025.
Institutional ownership of common stock increased to 46% from ~6% over the year.
Company reiterated 2026 strategy: compound ETH per share, generate yield, expand partnerships, maintain governance.

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