Sharplink(NASDAQ) SBET

Sharplink, Inc. helps organizations manage digital assets like Ethereum while connecting sports fans to online betting sites. The company earns rewards from the Ethereum network and helps gambling companies find new customers. Its services help institutional investors and gaming partners navigate the complex world of blockchain and regulated betting.

What Sharplink Does

• ETH Treasury Management: Strategy involving the long-term holding and oversight of Ethereum; accounted for 97% of total revenue in the quarter ended June 30, 2026.
• Native Staking: Delegation of Ethereum to network validators to earn rewards for helping secure the blockchain network.
• Liquid Staking Tokens: Deposits of Ethereum into protocols in exchange for receipt tokens like LsETH that remain tradable while earning rewards.
• Affiliate Marketing: Services that drive traffic and new players to licensed sportsbooks and online casino gaming operators.

Building a Digital Treasury

• Adopted Ethereum as its primary treasury asset in June 2025 to increase long-term shareholder value.
• Entered a strategic partnership with ether.fi and other partners in Dec. 2025 to deploy $200 million in Ethereum.
• Established the Galaxy Sharplink Onchain Yield Fund in Aug. 2026 to manage $125 million for institutional on-chain strategies.
• Expanded affiliate marketing operations to 18 regulated jurisdictions as of July 2026.

Institutional Standards for Staking

Sharplink utilizes institutional-grade custody and risk-management frameworks to manage its digital assets for the public market. The company also tracks Ethereum concentration, which measures the amount of digital assets held per share to evaluate the efficiency of its treasury operations.

Second Quarter 2026 Performance

• Total revenue reached $11.5 million in the quarter ended June 30, 2026, up 1,554% year over year.
• Staking activities generated $22.7 million in revenue for the six-month period ended June 30, 2026.
• Net loss was $394.3 million in the second quarter of 2026, driven primarily by Ethereum price volatility.
• The company raised $73.3 million in net proceeds through a registered direct offering completed in June 2026.
• Cash on hand increased to $56.2 million as of June 30, 2026, from $28.5 million on Dec. 31, 2025.

Sharplink Business Evolution

Sharplink has successfully transitioned from a gaming affiliate business into a specialized digital asset firm focused on Ethereum treasury management. This strategic shift combines traditional marketing services with institutional-grade blockchain operations to support long-term capital growth.