SharpLink Gaming's stock plummeted nearly 15% following the announcement of a $103 million net loss for Q2 2025. This disappointing performance starkly contrasts to a net income of $12 million in the same quarter last year. The company's revenue also fell by 30% to $1.4 million, with a gross profit decrease of 50% compared to the previous year. Analysts attributed the losses largely to a non-cash impairment of $87.8 million linked to its LSE holdings, as well as $16.4 million in stock-based compensation connected to a strategic advisory agreement with ConsenSys. The report marks SharpLink’s first earnings release since it pivoted towards an Ethereum-focused strategy in May. Meanwhile, Ethereum's price dropped below $4,400 amidst geopolitical uncertainties and a report on U.S. economic data. Despite the drop, SharpLink holds approximately 728,804 ETH, valued at over $3 billion, as Ethereum continues to be affected by recent market fluctuations.

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