SharpLink Gaming stock dropped nearly 15% after the firm reported a net loss of $103 million for Q2 2025, a significant decline from the nearly $12 million net profit during the same quarter last year. The company's revenue fell to $1.4 million, down 30% from the previous year, with a gross profit of $0.3 million, a 50% decrease compared to H1 2024. The losses were attributed to a non-cash impairment on its LSE holdings worth $87.8 million and stock-based compensation expenses totaling $16.4 million. This report marks the company's first financial disclosure since its strategic pivot towards an Ethereum-centered business model. Additionally, Ethereum's price fell below $4,400 amid broader market conditions influenced by U.S. economic data and geopolitical tensions, impacting SharpLink's valuation, as the firm holds approximately 728,804 ETH valued at $3.23 billion.

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