SharpLink Gaming’s stock dropped nearly 15% after the company reported a net loss of $103 million for the second quarter of 2025, significantly down from a $12 million net income during the same quarter last year. Revenue also decreased by 30% to $1.4 million. The losses were attributed primarily to an $87.8 million non-cash impairment loss linked to its LSE holdings, a tokenized version of staked ETH used for earning rewards on the Ethereum network. The financial difficulties coincided with a decline in Ethereum price, which fell below $4,400 amid geopolitical uncertainties and economic data suggesting inflationary pressures. SharpLink currently holds 728,804 ETH valued at approximately $3.23 billion. This earnings report marks the first since the company shifted to an Ethereum-focused corporate strategy in May.

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