SharpLink Gaming's stock dropped nearly 15% following the announcement of a $103 million net loss in its Q2 earnings report. This decline contrasts sharply with the $12 million in net income reported during the same quarter last year. The company's revenue fell by 30% to $1.4 million. Factors contributing to this loss included a significant non-cash impairment of $87.8 million on its LSE holdings and $16.4 million in stock-based compensation related to an agreement with blockchain firm Consensys. SharpLink, which operates under an Ethereum-centered business model, currently holds over 728,000 ETH, valued at approximately $3.23 billion. The decline in stock value coincides with Ethereum dipping below $4,400. Market experts link this price drop to geopolitical uncertainties and disappointing U.S. economic data, despite a strong showing from Ethereum-based ETFs. The recent financial results mark a challenging period for SharpLink, following its pivot towards an Ethereum-focused strategy.

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