Ethereum Holds Support as Corporate Crypto Plans Expand

Key Moments

• SharpLink (SBET) posted a Q2 net loss of $394.3 million, driven largely by $321 million in unrealized losses on its ETH holdings.
• BitMine Immersion (BMNR) repurchased 3 million shares last week and increased its ETH position to 5.805 million, most of which is staked.
• Ethereum is trading around $1,870 and is hovering near its 20- and 50-day EMAs, signaling consolidation rather than a clear trend.

SharpLink Hit by Crypto Market Weakness

Ethereum price today: $1,870

SharpLink (SBET) reported a Q2 net loss of $394.3 million following sharp declines in the broader crypto market, a deterioration of more than 3.5 times compared with its $103.4 million loss in Q2 2025, according to a filing on Monday.

The quarterly loss included $321 million in unrealized losses tied to its Ethereum holdings and $76.1 million in impairment charges related to its liquid staking tokens LsETH and weETH. Despite the steep loss, total revenue rose to $11.5 million, up from $0.7 million in the same period a year earlier.

During the quarter, SharpLink raised $75 million via a direct offering of more than 10.013 million common shares at $7.49 per share. The company used part of the proceeds to purchase 10,000 ETH and to buy back 2.1 million shares of its own stock at $4.70 per share. SharpLink also reported that it had been added to the Russell 2,000 and Russell 3,000 indexes as part of the June 2026 index reconstitution.