Sharplink reports Q2 2026 revenue $11.5M, net loss $394.3M driven by $321M unrealized crypto losses

Sharplink reported second-quarter 2026 results with total revenue of $11.5 million and a net loss of $394.3 million for the three months ended June 30, 2026. The loss was driven primarily by a $321.0 million unrealized loss on crypto assets and a $76.1 million impairment of LsETH and weETH; cash and cash equivalents were $56.2 million at quarter end. The company continues active treasury management and ecosystem investments while holding approximately 886,881 ETH as of June 30, 2026.

Financial Highlights

• Total revenue: $11.5 million for the three months ended June 30, 2026 (compared with $0.7 million in Q2 2025).
• Revenue from staking: $11.161 million for the three months ended June 30, 2026.
• Unrealized loss on crypto assets at fair value: $321.0 million for the three months ended June 30, 2026.
• Impairment of crypto assets at cost (LsETH and weETH): $76.1 million charge for the three months ended June 30, 2026.
• Net loss: $394.3 million for the three months ended June 30, 2026; cash and cash equivalents: $56.2 million as of June 30, 2026.

Business Highlights

• ETH treasury scale: Held approximately 886,881 ETH as of June 30, 2026 (including native ETH and ETH-equivalents) and 888,938 ETH as of August 3, 2026 using conversion estimates.
• Treasury strategy activity: Actively managing ETH treasury since launch on June 2, 2025, and deploying capital into ecosystem initiatives to enhance ETH productivity and infrastructure.
• Strategic ecosystem funding: Announced anchor funding to three organizations—EthLabs, Ethereum Institutional and EthSystems—to support protocol development, institutional adoption and privacy infrastructure.
• Capital markets actions: Completed a $75.0 million registered direct offering on June 23, 2026 and repurchased approximately 2.1 million shares during the quarter (aggregate repurchases since August 2025: 4,071,223 shares at ~$41.7 million).
• Product/market development: Launched the Galaxy Sharplink Onchain Yield Fund with $125.0 million committed capital (Sharplink committing $100.0 million) with Galaxy as investment manager to begin funding investments imminently.

Original SEC Filing: Sharplink, Inc. [ SBET ] - 8-K - Aug. 10, 2026