SharpLink Gaming stock fell nearly 15% after the company reported a net loss of $103 million for Q2 2025, a drastic drop from a net income of $12 million a year prior. This decline coincided with Ethereum’s price dropping below $4,400, following a peak above $4,800. The losses were attributed to an $87.8 million non-cash impairment loss on LSE holdings, a tokenized version of staked ETH, and stock-based compensation costs totaling $16.4 million linked to an advisory agreement with Consensys. Despite the challenging financials, SharpLink is pivoting towards an Ethereum-centered corporate strategy. The company holds 728,804 ETH, valued at approximately $3.23 billion. Investors remain focused on the fluctuating Ethereum market and its implications on SharpLink's future.

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