SharpLink Q2 net loss $103.4M, holds 728,804 ETH; new treasury strategy

Sharplink, Inc.

2025-Q2 EPS reported -$8.05 revenue$1,439,022

Net loss $103.4M for Q2 2025 vs. $0.5M loss in Q2 2024; includes $87.8M non-cash LsETH impairment and $16.4M stock-based compensation.
Revenue $0.7M, down from $1.0M; gross profit $0.2M (30% margin).
Holds 728,804 ETH, staked ~100%, generating 1,326 ETH cumulative rewards; raised over $2.6B capital.
Joseph Lubin (Ethereum co-founder) named Chairman; Joseph Chalom (ex-BlackRock) appointed Co-CEO.
Introduced ETH Concentration metric; increased 98% to 3.95 from 2.00.

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