SharpLink Gaming's stock dropped nearly 15% after the firm reported a net loss of $103 million for Q2 2025, compared to a $12 million profit in the same quarter last year. Revenue also fell 30% to $1.4 million. The loss was attributed to a significant non-cash impairment relating to their Ethereum treasury holdings and stock-based compensation linked to their advisory partnership with Consensys. This report marked the company's first earnings announcement after shifting to an Ethereum-focused strategy in May. Concurrently, Ethereum's price fell below $4,400 amid broader market pressures, including geopolitical uncertainties and strong U.S. economic data. SharpLink currently holds 728,804 ETH, valued at approximately $3.23 billion.

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