Key Highlights
- SharpLink earned $104M in Q3 2025 as its ETH staking strategy steadily grows holdings and generates reliable rewards, proving crypto can drive real profits.
- The firm now holds 861K ETH, doubling ETH per share since launch, showing disciplined treasury management fuels long-term value and growth.
- With $200M planned for DeFi on Linea and strong staking returns, SharpLink demonstrates how public companies can leverage Ethereum strategically.
SharpLink Gaming (NASDAQ: SBET) has reported strong third-quarter results, earning $104.3 million in profit for Q3 2025. The company, which holds a large amount of Ethereum (ETH), said the growth came mainly from its ongoing Ethereum treasury strategy.
According to the statement, SharpLink’s Co-CEO, Joseph Chalom, said the third quarter marked the first full period executing its ETH treasury strategy, and the results validated their model. “To date, we’ve deployed nearly all of our ETH holdings into productive, yield-generating staking, while maintaining disciplined risk management,” he stated.
Moreover, Chalom noted that the firm doubled its ETH per share concentration from 2.0 to 4.0 since the treasury’s inception. Hence, SharpLink’s ETH-driven model has positioned it as a pioneer among publicly traded companies using Ethereum as a financial foundation.
The firm also confirmed on X its Q3 2025 earnings, highlighting major gains from its Ethereum-focused treasury plan. “SharpLink’s Q3 2025 earnings results are out,” the company stated on X. “Note: Total ETH holdings are comprised of native ETH and as-if-redeemed LsETH.”
ETH treasury drives explosive growth
SharpLink’s total revenue jumped to $10.8 million in Q3 2025, compared to just $0.9 million in the same period last year—a gain of over 1,100%. Consequently, net income soared to $104.3 million, or $0.62 per diluted share, reversing a prior-year loss of $885,000.
As of September 30, 2025, SharpLink held 817,747 ETH, which increased to 861,251 ETH by November 9. The company also had $11.1 million in cash and $26.7 million in USDC.
Additionally, SharpLink earned 492 ETH in staking rewards last week alone, pushing total rewards to 7,067 ETH since June 2025. Each reward cycle compounds the treasury’s growth, adding to its long-term value. “Every reward earned is added back into staking, which lets the total balance grow week after week,” the company explained.
Expanding strategy and market presence
SharpLink took steps to strengthen its financial position. In August, the board approved a $1.5 billion stock buyback plan. By the end of the third quarter, the company had bought back about 1.94 million shares for $31.6 million. In September, SharpLink also worked with Superstate to launch a tokenized version of its SBET stock on the Ethereum blockchain.
In October, SharpLink raised $76.5 million by selling shares directly at a 12% premium over its market price. The company also added Matthew Sheffield from FalconX as Chief Investment Officer and Mandy Campbell, who was formerly with Bain Capital Crypto, as Chief Marketing Officer.
Moreover, SharpLink’s also said in late October that it plans to deploy $200 million worth of Ethereum on Linea, a zkEVM Layer 2 network, showing its focus on growing steady DeFi returns. Chalom said, “Our ability to dynamically manage capital and partner with the most revered names in the Ethereum ecosystem puts SharpLink in pole position as the Ethereum institutional supercycle accelerates.”
Recently, CIO Matt Sheffield also addressed rumors of large ETH transfers to OKX. He was quick to defend, clarifying that all Ethereum holdings remain fully staked and no movement occurred, reinforcing transparency and trust among investors.
According to Yahoo Finance, SharpLink Gaming (SBET) closed at $11.57, up $0.01 (0.09%) at 4:00 PM EST. Overnight, shares rose $0.27 (2.33%) to $11.84, showing slight positive movement in trading.
SharpLink’s focused Ethereum strategy highlights how public companies can use blockchain in practical ways. Its results show that careful management and transparency, rather than speculation, can turn crypto assets into steady business growth.
