SharpLink Gaming's stock fell nearly 15% after the company reported a $103 million net loss for Q2, contrasting with a nearly $12 million net income from the same quarter last year. Revenue also dropped by 30% to $1.4 million. The losses stemmed from a significant non-cash impairment loss on its Ethereum holdings and stock-based compensation linked to a strategic advisory agreement. The company's executives emphasized that these losses were non-cash, adhering to accounting practices. The drop in share value coincided with Ethereum's price dipping below $4,400 amid economic uncertainties. As of now, SharpLink holds 728,804 ETH, valued at approximately $3.23 billion.

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