SharpLink Gaming's stock fell nearly 15% on Friday after the company reported a net loss of $103 million for Q2 2025. This loss marks a significant decline from nearly $12 million in net income during the same period last year. The company attributed these losses primarily to a non-cash impairment loss related to its LSE holdings and stock-based compensation linked to a strategic advisory agreement with blockchain firm Consensys. Additionally, the Ethereum market is experiencing a downturn, with ETH dipping below $4,400 after reaching record highs just days before. SharpLink currently holds 728,804 ETH, valued at approximately $3.23 billion. Investors are concerned about the company’s pivot towards Ethereum-focused strategies and the impact on its financial performance.

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