SharpLink Gaming's stock fell nearly 15% after the company reported significant losses for Q2, with a net loss of $103 million compared to a profit of nearly $12 million in the same quarter last year. Revenue dropped by 30% to $1.4 million, and gross profit was down 50%. This disappointing performance is attributed to a non-cash impairment loss on their LSE holdings and high stock-based compensation costs. Concurrently, Ethereum's price dipped below $4,400 amid broader market pressures, impacting the company's treasury of 728,804 ETH valued at approximately $3.23 billion. The release of these earnings marks the first since SharpLink's shift to an Ethereum-focused strategy earlier in the year, igniting concerns among investors about the sustainability of their business amidst fluctuating cryptocurrency valuations.

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