Sharplink Gaming staked another 39,319 ETH worth roughly $91 million on August 21, pushing an already large corporate ether treasury even higher. The move extends a year-long pattern of accumulating and staking ether rather than holding it idle, even as the company posts steep quarterly losses.
Another Staking Batch, Another Data Point
Lookonchain flagged the transaction, reporting that Sharplink staked another 39,319 ETH worth close to $91 million at current prices. The move fits a pattern the Nasdaq-listed company has followed for over a year: keep accumulating ether, then route most of it into staking and liquid-staking derivatives instead of leaving it idle.
Sharplink, ticker SBET, pivoted from sports betting marketing to ether accumulation in mid-2025 under Chairman Joseph Lubin, the Ethereum co-founder and Consensys chief executive. Under his direction, the company has become the second-largest corporate ether holder, trailing only Bitmine Immersion.
A Treasury Approaching the 900,000 Ether Mark
The freshly staked ether lands on top of a treasury that stood at 888,938 ETH as of August 3, up from 886,725 ether roughly five weeks earlier. That prior update showed the holdings split across 632,719 native ETH, 181,299 ETH via the liquid-staking token LsETH, and 72,707 ETH via weETH, giving Sharplink exposure to staking yield while keeping part of its position liquid. The pace of accumulation has slowed since the company's early buying spree, but staking nearly the entire balance has become the more consistent theme.
Staking Revenue Offsets a Rough Quarter
Staking activity generated $11.2 million in revenue, the bulk of $11.5 million in total Q2 2026 revenue, though the figure missed Wall Street's $12.3 million estimate. The quarter still produced a steep $394.3 million net loss, driven mainly by a $321 million unrealized loss on crypto holdings and $76.1 million in impairments tied to liquid-staking positions as ether's price slid during the period.
Co-chief executive Joseph Chalom, who joined Sharplink from Blackrock's digital assets team in July, has said the strategy centers on a single metric rather than quarterly share-price swings: increasing ETH per share. Sharplink is not alone in leaning on this approach — a six-company average found staking made up roughly 60% of reported revenue across ether treasury firms, even as the group posted combined losses topping $1.4 billion, according to staking infrastructure provider Everstake.
Sharplink itself booked $25.6 million in staking revenue for full-year 2025, a figure already eclipsed by the $11.2 million it generated from staking in a single quarter this year.
Source: Bitcoin News
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