Sharplink Reports $734M Full-Year Loss as Ethereum Staking Revenue Jumps 50%
Sharplink posted a full-year $734 million loss after a $616 million valuation writedown and a $140 million impairment on its 867,000 Ethereum holdings, now valued at about $1.75 billion. Staking revenue rose 50% quarter-over-quarter to $15.3 million, generating 14,500 ETH (US$9.4 million) in 2025.
1. Full-Year Loss and Impairments
Sharplink recorded a $734 million net loss for the year, driven primarily by a $616 million reduction in the value of its Ethereum holdings and a $140 million impairment charge on staked tokens, partially offset by a $55 million gain on intra-holdings conversions.
2. Ethereum Holdings and Staking Revenue
The company holds 867,000 ETH, valued at roughly $1.75 billion, making it the second-largest corporate holder. Staking revenue surged 50% quarter-over-quarter to $15.3 million, delivering 14,500 ETH worth $9.4 million during the period.
3. Cash Position and Share Performance
At year-end, Sharplink reported $30.4 million in cash and stablecoins. Its stock has fallen 55% over six months, slightly more than Ethereum’s 53% slide, while maintaining 4 ETH per share and targeting further growth in its crypto treasury.