SharpLink Gaming stock fell nearly 15% on Friday following the company's disappointing Q2 earnings, reporting a net loss of $103 million. The firm, focused on Ethereum, recorded a revenue decline of 30% year-over-year, totaling $1.4 million, marked by a gross profit decrease of 50%. The losses were significantly attributed to a non-cash impairment loss and stock-based compensation related to a strategic advisory agreement. Notably, Ethereum’s price dipped below $4,400, impacting investor sentiment after a recent record of over $4,800. Despite these challenges, SharpLink continues to hold substantial Ethereum assets valued at approximately $3.23 billion. The firm’s financial woes emerged as Ethereum ETFs gained traction, hinting at a broader market trend amid rising corporate accumulation. This earnings report marks the company's first since its strategic pivot toward Ethereum earlier this year.

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