SharpLink’s bet on Ethereum resulted in major losses in 2025. The Nasdaq-listed company reported an annual loss of $734M. The main blow came from the drop in Ethereum, which sharply reduced the value of its crypto reserves.
However, some of the losses were offset. The company received $55.2M through conversion and redemption of Ethereum. Another key point: SharpLink raised about $3.2B for its crypto strategy by the end of last year.
As of December 31, 2025, the company’s reserve held 864,597 ETH. The volume has now grown to about 868,699 ETH, according to the latest report.
Additionally, SharpLink earned 14,516 ETH through staking. The company earned these coins since June 2025, after launching its Ethereum-related strategy.
Ethereum also showed high volatility last week. At first, the asset gained about 5% and rose to $2,179. But the rally quickly broke down.
By Friday, March 6, Ethereum fell below $2,000 again. It stayed below that mark until Monday morning.
Currently, Ethereum is trading around $2,043.18. Over the past 24 hours, the asset has gained 2.58%, according to CoinMarketCap data.
SharpLink CEO Says Company Strategy Can Withstand Market Volatility
SharpLink CEO Joseph Chalom believes the company can weather market volatility. According to him, the strategy was originally designed for different market phases.
He called last year a turning point for SharpLink . The company bet on Ethereum and began building internal infrastructure for it, including asset management and staking.
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SharpLink officially unveiled its ETH reserve strategy on June 2, 2025. After that, the amount of Ethereum per share rose to 4.01 ETH. Previously, the figure was 2.0 ETH.
Chalom previously headed digital assets at BlackRock, and he admits that sharp market moves remain a risk. But in his view, the SharpLink model should withstand such downturns.
“We have built a platform that can operate both in a strong market and in tough conditions,” he said.
He added that the company’s strategy remains stable and is aimed at the long term.
Still, the market continues to pressure the company. Over the past six months, SharpLink shares have fallen by about 55%. For comparison, Ethereum dropped by about 53% over the same period.
SharpLink does not earn only from asset growth. The company acts as a validator on the Ethereum network through the proof-of-stake mechanism. It also allocates some capital to DeFi protocols for additional yield.
The situation was also commented on by board chairman Joe Lubin, cofounder of Ethereum and CEO of ConsenSys. He specifically noted that interest in stablecoins and tokenized assets continues to grow, and the Ethereum ecosystem remains one of the market’s key players.
According to him, institutional interest in crypto assets accelerated significantly in 2025. Against this backdrop, SharpLink is trying to carve out its place between the public market and the Ethereum ecosystem.
SharpLink Reports Strong Revenue Growth
Despite the loss in 2025, SharpLink’s revenue grew significantly.
For the year, it reached $28.1M. For comparison, in 2024 the company earned $3.7M.
The growth is largely due to Ethereum staking. The fourth quarter was especially strong. Staking income then increased by almost 50% and amounted to $15.3M.
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Interest in SharpLink shares also grew. Over the past year, the share of institutional investors rose to 46%. That’s about 6% more than a year earlier.
By the amount of Ethereum in corporate reserves, SharpLink now ranks second among public companies.
Only BitMine, investor Tom Lee’s company, is higher. Its reserves exceed 4.5M ETH. That’s about 3.8% of the total Ethereum supply.
