Sharplink Q1 Revenue Soars to $12.1M, Eyes $125M Onchain Yield Fund
SBET•Sharplink's Q1 revenue rose to $12.1 million from $0.7 million a year earlier, while net loss widened to $685.6 million chiefly due to $506.7 million of unrealized ETH losses and a $191.7 million impairment. The company now holds 872,984 ETH and will deploy $100 million into a $125 million Onchain Yield Fund with Galaxy Digital.
1. Q1 2026 Financial Performance
Sharplink reported total revenue of $12.1 million for Q1 2026, up from $0.7 million in the prior-year quarter, driven by its actively managed ETH treasury strategy. SG&A expenses rose to $9.9 million as the company invested in infrastructure and talent, while net loss totaled $685.6 million due primarily to $506.7 million of unrealized ETH markdowns and a $191.7 million impairment charge.
2. Ethereum Treasury Growth
As of May 4, 2026, Sharplink increased its ETH holdings to 872,984 ETH, up from 870,821 ETH at quarter-end. Since launching its ETH treasury platform in June 2025, the firm has generated 18,800 ETH in staking rewards and more than doubled its ETH per share concentration from 2.0 to 4.02.
3. Galaxy Sharplink Onchain Yield Fund
Sharplink and Galaxy Digital entered a non-binding memorandum to launch the Galaxy Sharplink Onchain Yield Fund with $125 million in commitments, including $100 million from Sharplink’s staked ETH treasury. The fund will deploy capital across institutional-grade onchain yield strategies to compound the core ETH position while maintaining exposure and risk management standards.
