SharpLink reports $394M in Q2 net loss fueled by ETH decline

SharpLink, the second-largest Ether treasury company, reported a net loss of $394 million for the second quarter of 2026, compared to a $103 million net loss during the same period last year. 

The loss included $321 million in unrealized crypto losses and $76 million in impairments on staked Ether (ETH) tokens, according to a Monday announcement. 

The Miami, Florida-based Ether treasury company said it generated $11.5 million in revenue, including $11.1 million from ETH staking. Cash and cash equivalents totaled $56 million, up from $28 million in December 2025.

SharpLink holds 632,784 Ether, worth $1.2 billion, and 181,321 ETH, or $343 million, through various liquid staked Ether tokens, which exposes the company to the second-biggest crypto’s price movement. Ether fell around 23% during the second quarter of 2026, according to CoinMarketCap. 

SharpLink resumed its Ether purchases with a $7.8 million buy in late June, after pausing buying for eight months. It bought another 10,000 Ether for about $16 million days later.

SharpLink’s stock price fell 3.9% on Monday, extending its 30% year-to-date decline, according to Yahoo Finance data.

The company ranks as the second-largest Ether treasury company, with its current 863,000 ETH holdings worth $1.46 billion. Bitmine is the largest corporate Ether holder, with 5.54 million ETH, worth $9.4 billion, according to StrategicEthReserve data.

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