Sharplink has released its financial report for the year, which shows a net loss of $734 million. The primary reason for this was the sharp devaluation of Ethereum in the second half of 2025, which significantly reduced the value of the company’s cryptocurrency reserves.
This is reported by Finway
Losses Due to Asset Revaluation and Staking as a Revenue Source
The financial results for Sharplink were largely determined by the revaluation of Ethereum holdings: over the past year, their value decreased by approximately $616 million. Additionally, the company wrote down assets amounting to around $140 million related to staking tokens. At the same time, despite significant losses, Sharplink generated about $28 million in revenue from Ethereum staking operations, which became its main source of profit for the year.
“The company explained the result as a decrease in the value of its reserves in the second half of the year.”
By the end of the financial year, the company held approximately 867,000 ETH, valued at the current price of $2,000 per coin, totaling around $1.75 billion. Sharplink remains one of the largest corporate holders of this asset.
Growth in Staking Revenue and Development Strategy
Despite market volatility, Sharplink’s revenue from Ethereum staking shows significant growth. In the last quarter, the company’s revenue from this activity increased by 50%, reaching $15.3 million, while the previous quarter brought in $10.3 million. Overall, for the year, the company earned about 14,500 ETH in rewards for participating in staking.
Company director Joseph Chalom noted in a letter to shareholders that 2025 was a turning point for Sharplink. During this period, the company was able to raise approximately $3.2 billion and refocus its business on a strategy of accumulating Ethereum. By the end of the year, the company had $30.4 million in cash and stablecoins remaining in its accounts.
Sharplink is also investing part of its capital in decentralized finance (DeFi) protocols, aiming to increase the yield of its crypto assets. Sharplink’s chairman and co-founder of Ethereum, Joe Lubin, emphasized that institutional adoption of Ethereum technologies is gaining momentum, and the company aims to be a bridge between traditional financial markets and the Ethereum ecosystem.
Hourly chart of ETH/USDT on Binance. Data: TradingView.