Key Facts

  • Sharplink reported third-quarter net income of $751.4 million, or $3.45 per diluted share, up from $104.3 million a year earlier.

  • The result was driven principally by $676.7 million in unrealized gains and a $75.2 million net realized gain on crypto assets, while revenue rose 24% from a year earlier to $13.5 million.

  • Sharplink held about 895,117 ETH as of Nov. 2 and said it completed a $200 million liquid staking allocation through Lido in September.

Sharplink reported third-quarter net income of $751.4 million, or $3.45 per diluted share, up from $104.3 million a year earlier.

The result was driven principally by $676.7 million in unrealized gains and a $75.2 million net realized gain on crypto assets, while revenue rose 24% from a year earlier to $13.5 million.

Sharplink held about 895,117 ETH as of Nov. 2 and said it completed a $200 million liquid staking allocation through Lido in September.

The quarter included $676.7 million in unrealized gains, primarily reflecting ETH market conditions, and a $75.2 million net realized gain, the company said on Monday. Sharplink held about 895,117 ETH as of Nov. 2, up from 892,708 ETH at the end of September.

Where the Profit Came From

Net income was $3.45 per diluted share. Total revenue rose 24% from a year earlier to $13.5 million, with staking revenue up 27% to $13.1 million, while selling, general and administrative expenses fell 8% to $11.0 million.

Putting the ETH Treasury to Work

"These milestones reflect our belief that ETH should be managed as a productive operating asset rather than simply held for potential appreciation," Chalom said.

ETH traded at $2,124, down 4.9% over 24 hours, according to CoinMarketCap data.