SharpLink Gaming's stock fell nearly 15% after the company reported a net loss of $103 million for the second quarter of 2025, contrasting sharply with a $12 million profit during the same period last year. The company’s revenue also dropped by 30%, amounting to $1.4 million, marking a challenging fiscal period compounded by a non-cash impairment loss of $87.8 million related to its Ethereum holdings. The decline in SharpLink’s stock coincided with Ethereum’s price dropping below $4,400 due to geopolitical uncertainties and disappointing U.S. economic data. SharpLink, which holds 728,804 ETH valued at approximately $3.23 billion, has pivoted its business strategy towards an Ethereum-centered focus. Despite the losses, CFO Robert DeLucia emphasized that the impairment was a non-cash loss based on current accounting practices. The stock's decline reflects broader market pressures, including regulatory news and recent fluctuations in Ethereum's value.

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