SharpLink records $394 million loss while Ethereum staking yields $11.2 million

SharpLink, the second-largest publicly listed company with an Ethereum treasury, has published its figures for the second quarter of 2026. Revenue amounts to $11.5 million, of which $11.2 million comes from Ethereum staking. Nevertheless, the company reports a net loss of $394.3 million, largely due to unrealised losses on crypto and write-downs on two tokens.

Ethereum is available at OKX and Bybit.

At a glance:

• SharpLink generates $11.5 million in revenue in Q2 2026, with staking as its main source of income.
• The net loss rises to $394.3 million, driven by $321 million in unrealised crypto losses.
• As of 3 August 2026, the company holds nearly 889,000 ETH and receives 24,755 ETH in staking rewards.

Loss dominated by unrealised crypto losses

The net loss of $394.3 million sounds alarming, but the cause lies mainly in accounting items that do not represent a direct cash outflow. An unrealised loss of $321 million on crypto holdings accounts for the largest part of the shortfall. In addition, SharpLink writes down $76.1 million on LsETH and weETH, two forms of liquid staking tokens held in the company’s portfolio.

Operational activities continue as usual in the meantime. The staking revenues of $11.2 million show that the company is actively generating returns on its Ethereum holdings. Ethereum has long been showing signs of growing activity on the blockchain, which increases the appeal of staking for companies like SharpLink.

Ethereum holdings grow to nearly 889,000 ETH

On 30 June 2026, SharpLink held 886,881 ETH. That number rose further to 888,938 ETH on 3 August 2026. The total consists of 634,255 ETH held directly, supplemented by 181,748 ETH via LsETH and 72,935 ETH via weETH. Staking rewards over the period under review amount to 24,755 ETH. At the current Ethereum price of $1.874,25, the total holdings represent a value of more than $1.6 billion.

Furthermore, SharpLink announced the launch of the Galaxy and SharpLink Onchain Yield Fund in the second quarter. The company is also investing in three former Ethereum Foundation teams: Ethlabs, ETHSystems and Ethereum Institutional. In June, SharpLink was also added to the Russell 2000 and Russell 3000 indices, which increases visibility among institutional investors. More details on the quarterly figures can be found in the official report.