SharpLink Gaming stock dropped nearly 15% after reporting a net loss of $103 million for Q2, significantly lower than its $12 million net income in the same period last year. The revenue decreased by 30% to $1.4 million, and gross profit halved compared to the first half of last year. This downturn is linked to an $87.8 million impairment loss related to its holdings in LSE, a tokenized version of staked ETH, alongside $16.4 million in stock-based compensation due to an advisory agreement with Consensys. SharpLink's pivot to an Ethereum-focused strategy has intensified scrutiny regarding its financial strategies, especially as Ethereum's price fell below $4,400, influenced by geopolitical factors and unexpected U.S. economic data. Currently, SharpLink holds approximately 728,804 ETH, valued at around $3.23 billion, but market uncertainties have affected asset valuations.

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