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4w ago

SharpLink Reports $394.3M Q2 Loss After Large ETH Revaluations

The company says the headline loss stems from non‑cash markdowns on Ethereum and liquid‑staking tokens and that converting its staked positions to cash could take roughly 30 to 90 days.

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Via crypto.news
Sharplink earns $11m from ethereum staking despite $394m q2 loss

Overview

  • SharpLink reported on Monday, Aug. 10 that it had a $394.3 million net loss for Q2 2026 driven by a $321.0 million unrealized ETH revaluation and a $76.1 million impairment on LsETH and weETH.
  • Operating results tell a different story with staking revenue of $11.2 million making up almost all of the $11.5 million total revenue in the quarter.
  • The company held about 886,881 ETH and ETH‑equivalents at June 30 and said its treasury grew to roughly 888,938 ETH by Aug. 3, reflecting continued token accumulation.
  • SharpLink completed a $75 million registered direct offering on June 23 and used part of the proceeds to buy roughly 10,000 ETH, and it committed $100 million to a $125 million Galaxy SharpLink Onchain Yield Fund after the quarter.
  • Under U.S. GAAP the markdowns and impairments are non‑cash charges that lower reported equity, impairments on liquid‑staking tokens cannot be reversed if prices recover, and the company warned that stressed markets or redemption timing could force slow or unfavorable conversions of staked ETH.