SharpLink's Q3 ETH Treasury Execution Delivers Triple-Digit Revenue Growth
SharpLink Gaming, Inc. (NASDAQ: SBET) is rapidly redefining what it means to be a public company in the digital asset era. In its third quarter of 2025, SharpLink's strategic bet on Ethereum (ETH) as a core treasury asset fueled a leap in both revenue and profitability, underlining how disciplined crypto asset management can transform a balance sheet and investor outlook.
Over 1,100% Revenue Growth Driven by ETH Deployment
Management’s results speak volumes: Q3 2025 revenue soared to approximately $10.8 million, a dramatic jump from just $0.9 million in the prior year’s period. The key driver? An active ETH treasury approach that has seen the company stake nearly all of its Ether holdings, delivering consistent yields while mitigating risk.
| Q3 2024 | Q3 2025 | Year-Over-Year Change |
|---|---|---|
| $0.9 million | $10.8 million | +1,100% |
Net income tells a similar story, surging from a net loss of $885,000 in Q3 2024 to a net income of $104.3 million, or $0.62 per fully diluted share, in Q3 2025. This marks a pivotal turnaround powered largely by ETH-driven gains.
ETH Per Share Concentration Doubles, Massive Holdings Drive DeFi Focus
Since initiating its ETH treasury, SharpLink has doubled its ETH per share concentration—from 2.0 to 4.0. Total ETH holdings rose from approximately 817,747 at the end of September to 861,251 by early November, with over $3.0 billion in crypto assets now held on the balance sheet. The majority of this ETH is already deployed into yield-generating staking, and a $200 million allocation to Consensys’ Linea platform is planned for even greater DeFi yields.
| ETH Holdings (Sep 30, 2025) | ETH Holdings (Nov 9, 2025) | ETH Per Share (Since Inception) |
|---|---|---|
| 817,747 | 861,251 | 2.0 ? 4.0 |
Capital Return: $1.5 Billion Buyback and Stockholder Focus
August brought another headline: SharpLink’s board authorized a massive $1.5 billion stock repurchase program. By quarter-end, nearly two million shares were repurchased for $31.6 million, demonstrating the company's intent to reward long-term holders. Coupled with recent moves to launch tokenized SBET on Ethereum and an oversubscribed $76.5 million equity offering (priced above both market and net asset value), SharpLink is reinforcing both liquidity and investor confidence.
Leadership Expands and DeFi Ambitions Grow
To navigate this next phase, SharpLink added C-suite leaders from top crypto and finance firms. New partnerships—such as deploying $200 million of ETH on Consensys’ Linea platform via ether.fi and EigenCloud—further signal the company's commitment to sophisticated yield generation within the Ethereum ecosystem.
Looking Ahead: Sharplink’s Model for ETH Treasury Companies
With an agile, transparent, and innovation-focused strategy, SharpLink is quickly positioning itself at the forefront of the Ethereum institutional cycle. The company's track record of scaling its ETH exposure, managing risk, and pioneering public crypto asset management is a potential blueprint for others. Investors and analysts may want to monitor upcoming developments—especially around expanded DeFi partnerships, additional stock buybacks, and further treasury growth.
For those seeking more details or to tune in, SharpLink will hold its earnings conference call on Thursday, November 13, 2025, at 8:30 AM ET. See SharpLink's investor page for webcast access.
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