SharpLink Gaming's stock dropped nearly 15% following disappointing Q2 earnings, reporting a net loss of $103 million compared to a $12 million profit in the same quarter last year. The company's revenue fell by 30% to $1.4 million, with gross profit plunging 50% from the first half of the previous year. The losses were attributed to a non-cash impairment of $87.8 million on its Ethereum holdings and $16.4 million in stock-based compensation related to an advisory agreement. This earnings report comes shortly after SharpLink pivoted to an Ethereum-centric strategy, holding approximately 728,804 ETH valued at $3.23 billion. The fall in earnings coincided with Ethereum's drop below $4,400, influenced by geopolitical factors and adverse economic data. Market observers noted that Ethereum funds have recently seen significant inflows amid a tightening market for the asset.

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