SharpLink Gaming's stock fell nearly 15% following the announcement of significant losses for Q2 2025. The company reported a net loss of $103 million for the quarter, a sharp decline compared to a net income of $12 million during the same period last year. Revenue dropped to $1.4 million, marking a 30% decrease year-over-year. The losses were attributed to an $87.8 million non-cash impairment on LSE holdings, coupled with stock-based compensation costs of $16.4 million related to a strategic advisory agreement. The company, focused on an Ethereum-centric strategy, holds 728,804 ETH worth approximately $3.23 billion at the time of writing. Ethereum's price has also dipped below $4,400, contributing to the overall bearish sentiment. This downturn coincides with economic concerns, including a higher-than-expected producer-price index and geopolitical tensions. SharpLink's poor performance comes as U.S. Ethereum ETFs have seen considerable inflows, a contrast to the challenges faced by the company.

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