SharpLink Gaming's stock plummeted nearly 15% as the company reported a net loss of $103 million for Q2, contrasting sharply with its prior year’s income of nearly $12 million. The Ethereum treasury firm attributed its losses to an $87.8 million non-cash impairment on its LSE holdings, affected by lower ETH prices which fell below $4,400 after briefly hitting over $4,800. Additionally, $16.4 million in stock-based compensation tied to its advisory agreement with Consensys contributed to the downturn. SharpLink's revenues dropped 30% year-over-year to $1.4 million, with a gross profit of $0.3 million—down 50%. The report marks a critical point as this is the first earnings statement since SharpLink announced its shift towards an Ethereum-centered corporate strategy earlier this year. As of the report, SharpLink maintains 728,804 ETH, valued around $3.23 billion, showcasing the volatility of the cryptocurrency market amid ongoing geopolitical uncertainties.

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