SharpLink Q3 Net Income Reaches $751.4 Million on Ethereum Treasury Gains

SharpLink reported third-quarter net income of $751.4 million, or $3.45 per diluted share, surging over 620% from $104.3 million in the prior-year period. Profitability was driven primarily by $676.7 million in unrealized gains on its Ethereum holdings and $75.2 million in realized gains. Total revenue increased 24% to $13.5 million, with staking revenue providing $13.1 million. The firm held 892,708 ETH at the end of September and expanded its position to 895,117 ETH by November 2. SharpLink also deployed $200 million via Lido and launched an on-chain yield fund with Galaxy Digital.