Sharplink reported third-quarter net income of $751.4 million, driven mostly by unrealized gains on its ether holdings. The Ethereum treasury company held approximately 892,708 ETH as of Sept. 30, while its stock remains down 36% year to date.
Sharplink posted third-quarter net income of $751.4 million, compared with $104.3 million a year earlier. Most of the jump came from $676.7 million in unrealized gains on its ether holdings, plus $75.2 million in realized crypto gains.
Holdings and staking activity
The company held approximately 892,708 ETH as of Sept. 30. It also said it completed a $200 million ETH staking allocation through Lido and began deployments through its $125 million Galaxy Sharplink Onchain Yield Fund.
Total revenue rose 24% quarter over quarter to $13.5 million, which slightly beat estimates. Staking revenue grew 27% to $13.1 million.
Balance sheet and management comments
Sharplink's overall crypto assets totaled approximately $2.1 billion as of Sept. 30, valued in accordance with U.S. GAAP measures. Its cash and cash equivalents stood at $47.9 million, compared with $28.5 million as of Dec. 31, 2025.
CEO Joseph Chalom said in a release that the company is focused on "maximizing the productivity of our ETH holdings", according to The Block.
Chairman Joseph Lubin said Sharplink is well-positioned to participate in Ethereum's continued growth through its actively managed ETH treasury.
SBET shares traded around $6.20 at publication time, little changed on the day. The stock is down 36% year to date.
Source: The Block
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