SharpLink Gaming stock fell nearly 15% as the company reported a $103 million net loss for Q2 2025, contrasting sharply with a net income of nearly $12 million from the same period last year. Revenue for Q2 decreased by 30% to $1.4 million, with a gross profit of only $0.3 million—down 50% from the first half of the previous year. The losses stemmed from a significant $87.8 million non-cash impairment related to the company’s tokenized Ethereum holdings, further impacted by stock-based compensation related to their partnership with blockchain infrastructure firm Consensys. Amid these challenges, Ethereum's price fell below $4,400, contributing to the stock's decline. SharpLink currently holds approximately 728,804 ETH, valued at around $3.23 billion. The report represents the first earnings announcement since the firm pivoted to an Ethereum-centered strategy in May 2025.

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