SharpLink posted a $394 million net loss for Q2 2026 as Ether's price slide hit its treasury holdings. The company kept buying Ether during the quarter even as its stock extended a year-to-date decline.
SharpLink swung to a $394 million net loss in the second quarter of 2026, compared with a $103 million loss in the same period last year. The Miami-based company is the second-largest Ether treasury holder, and the swing traces directly back to Ether's price.
Unrealized losses drive the swing
The loss included $321 million in unrealized crypto losses and $76 million in impairments on staked Ether tokens, according to a Monday announcement. SharpLink still generated $11.5 million in revenue, including $11.1 million from ETH staking. Its cash and cash equivalents rose to $56 million, up from $28 million in December 2025.
Ether fell around 23% during the second quarter of 2026, according to CoinMarketCap data cited in the report. That decline weighs directly on SharpLink's balance sheet: the company holds 632,784 Ether, worth $1.2 billion. It holds another 181,321 ETH, or $343 million, through various liquid staked Ether tokens.
Treasury kept buying through the pause
SharpLink resumed its Ether purchases with a $7.8 million buy in late June, after pausing for eight months. Days later, it bought another 10,000 Ether for about $16 million. The company now ranks second among corporate Ether holders, with current holdings of 863,000 ETH worth $1.46 billion.
Bitmine remains the largest corporate Ether holder, with 5.54 million ETH worth $9.4 billion, according to StrategicEthReserve data.
Shares extend their slide
SharpLink's stock price fell 3.9% on Monday, extending its 30% year-to-date decline, according to Yahoo Finance data.
Source: Cointelegraph
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