NASDAQ:SBET

SharpLink posts explosive Q3 growth as ETH treasury strategy drives results

SharpLink reported a dramatic jump in third-quarter 2025 revenue to 10.8 million dollars, up more than 1,100 percent year on year, driven by the first full quarter of its actively managed Ethereum treasury strategy. Net income surged to 104.3 million dollars, compared with an 885,000-dollar loss a year earlier.

The company’s ETH holdings rose to 817,747 ETH at quarter-end and increased further to 861,251 ETH as of November 9. Total crypto assets reached 3.0 billion dollars, alongside 11.1 million dollars in cash and 26.7 million dollars in USDC.

Operationally, SharpLink launched a 1.5-billion-dollar share repurchase program, partnered with Superstate to tokenize SBET, completed a 76.5-million-dollar capital raise at a premium, and expanded its leadership team. It also committed 200 million dollars of ETH to Consensys’ Linea network via ether*fi and EigenCloud to enhance DeFi yields. The company says its active-management approach positions it strongly as institutional adoption of Ethereum accelerates.
SharpLink Deploys $200 Million in ETH on Consensys’ Linea Network

SharpLink Gaming (Nasdaq: SBET) announced plans to deploy $200 million in Ethereum (ETH) from its treasury onto Consensys’ Linea Layer 2 network through ether-fi and EigenCloud. The move aims to generate enhanced DeFi and staking yields while maintaining institutional-grade risk controls via Anchorage Digital Bank.

Co-CEO Joseph Chalom said the initiative aligns with SharpLink’s strategy to responsibly boost ETH productivity and shareholder value. The collaboration, backed by Consensys founder Joseph Lubin, marks a major step toward institutional adoption of Ethereum-based finance and lays the groundwork for new onchain capital market solutions.
SharpLink Gaming announced that its total Ether (ETH) holdings rose to 859,853 ETH as of October 19, 2025, making it one of the largest corporate holders of Ethereum globally. The company’s combined ETH and cash reserves now total approximately $3.5 billion, reinforcing its position as a key advocate for Ethereum adoption.

The increase follows a $76.5 million capital raise completed on October 17, 2025, which was executed at a premium to net asset value (NAV). Shortly after, SharpLink used part of the proceeds to purchase 19,271 ETH at an average cost of $3,892 per coin, taking advantage of favorable market conditions.

Co-CEO Joseph Chalom said the move highlights SharpLink’s “disciplined execution and focus on accretive ETH accumulation,” adding that the purchase “was immediately accretive to shareholders.”

Other highlights from the week included staking rewards reaching 5,671 ETH since the company launched its treasury strategy on June 2, 2025, and ETH concentration increasing to 4.0, doubling over the past four months. The company also reported holding $36.4 million in cash and equivalents.

SharpLink emphasized that its ETH-focused treasury approach continues to strengthen its balance sheet while aligning with its long-term vision of supporting Ethereum network growth.
SharpLink Gaming announced it will become the first public company to tokenize its SEC-registered equity directly on the Ethereum blockchain, partnering with Superstate as its digital transfer agent. Using Superstate’s Opening Bell platform, SharpLink will issue tokenized SBET shares that remain fully compliant with securities laws while being held in self-custodied wallets and potentially integrated with decentralized finance products.

The companies will also explore how tokenized equities can eventually trade on automated market makers (AMMs) in a regulated framework, a step SharpLink believes could redefine market structure by enhancing liquidity and efficiency.

Chairman Joseph Lubin, also co-founder of Ethereum, emphasized SharpLink’s alignment with Ethereum as the foundation of next-generation financial infrastructure. Since launching its ETH treasury strategy in June 2025, SharpLink has accumulated more than 838,000 ETH, making it one of the largest corporate holders of Ethereum.

Superstate CEO Robert Leshner called the project a milestone in on-chain capital markets, highlighting the potential for compliant tokenized securities to modernize global capital flows.