Sharplink Q2 Revenue Surges to $11.53M on Staking, Net Loss Hits $394.3M

Sharplink reports $11.53M Q2 revenue driven by staking, offset by $394.3M non-cash net loss. ETH holdings rise to 888k units as firm launches $125M fund.

Woofun AI reports that Sharplink Holdings (Nasdaq: SBET) published its second-quarter 2026 earnings, recording total revenue of $11.53 million, primarily derived from $11.16 million in staking income. The company posted a net loss of $394.3 million, attributed to a $321 million non-cash unrealized loss on ETH and $76.09 million in impairment provisions for LsETH and weETH, which do not impact actual ETH holdings. As of June 30, Sharplink held approximately 886,881 ETH units, increasing to roughly 888,938 units by August 3. The firm maintained a cash balance of $56.2 million and total crypto assets of $1.416 billion. On June 23, it completed a $75 million secondary offering, using proceeds to acquire around 10,000 ETH at an average price of $1,611 per unit.

Concurrently, the company repurchased approximately 2.1 million shares at $4.70 per share, bringing total buybacks since August 2025 to 4.07 million shares costing $41.7 million. Post-period, Sharplink launched the Galaxy Sharplink on-chain yield fund with $125 million in committed capital, contributing $100 million alongside Galaxy's $25 million, with Galaxy serving as investment manager. The firm also announced funding support for EthLabs, Ethereum Institutional, and EthSystems.