Disciplined Staking and Yield Operations Leads to Highest Institutional Ownership Among ETH Treasury Companies
Leadership to Host Conference Call This Morning at
“2025 was a defining year for Sharplink,” stated
2025 Highlights
Balance Sheet and Income Statement
- Ended the year with
$28.5 million in cash and$1.9 million in USDC stablecoins. - Total 2025 revenue was
$28.1 million versus$3.7 million for the year endedDecember 31, 2024 . - Q4 2025 staking revenue climbed to
$15.3 million – up nearly 50% from$10.3 million in Q3 2025. - Net loss totaled
$734.6 million as compared to net income of$10.1 million in 2024, due largely to unrealized losses and impairments offset by net realized gains.
- Unrealized loss:
$616.2 million due to ETH market conditions in the latter half of 2025. - LsETH impairment charge:
$140.2 million . - Net realized gain:
$55.2 million from ETH-to-LsETH conversions and redemptions.
- Unrealized loss:
Unrealized losses and impairment charges reflect GAAP accounting treatment and do not represent realized economic losses on ETH holdings nor reduce the number of ETH held by the Company.
Operational Achievements
- Formally launched ETH-centered treasury strategy on
June 2, 2025 , establishing ETH treasury management as a dedicated operating segment. - Became the world’s second largest publicly-traded holder of ETH as of
March 6, 2026 . - Doubled ETH per share (“ETH Concentration”)2 from 2.0 to 4.01.
- As of
December 31, 2025 , held 864,5974 ETH. - Since
June 2025 , Sharplink has generated 14,5163 ETH in total staking rewards through both native and liquid staking programs. - Built internal investment team to manage Sharplink’s treasury activities in-house to enhance risk management, minimize external management fees and preserve economics for stockholders.
- Increased institutional ownership of common stock from approximately 6% to 46% as of
December 31, 2025 .
2026 Strategy
Management reiterated that Sharplink’s key objectives are to:
- Further compound ETH per share through disciplined capital formation and allocation;
- Generate yield above native staking rates through institutional-grade treasury management;
- Expand partnership opportunities within the Ethereum ecosystem;
- Maintain strong governance, custody and compliance standards; and
- Continue building a pure-play, shareholder-aligned ETH treasury company.
In closing, Chalom added, “Crypto markets move in cycles, but our strategy is consistent and designed to endure. By prioritizing ETH productivity and institutional governance, we have built a platform that can perform in both strong and challenging markets. We remain focused on execution, transparency and delivering long-term value to our stockholders. As 2026 unfolds, Sharplink will continue to broaden sophisticated staking and yield activities, deepen partnerships in the Ethereum ecosystem and capitalize on opportunities to grow ETH per share.”
1 Total ETH holdings held as of
2 To enhance transparency into the Company's yield performance, Sharplink tracks a reporting metric called "ETH Concentration," which is also referred to as “ETH per share.” This metric is calculated by dividing the number of ETH, including the as-if redeemed LsETH, Sharplink holds by each 1,000 assumed diluted shares issued and outstanding ("Assumed Diluted Shares Outstanding"). Assumed Diluted Shares Outstanding represents the sum of (i) Sharplink's actual shares of common stock issued and outstanding as of the end of each reporting period, inclusive of disclosed ATM sales, plus (ii) the additional shares that would be issued upon the assumed exercise or settlement of all outstanding warrants, pre-funded warrants, stock option awards, and restricted stock units. Notably, Assumed Diluted Shares Outstanding is not calculated using the treasury stock method. It does not account for equity award vesting conditions, stock option exercise prices, or contractual restrictions limiting the convertibility of debt instruments. Additionally, it excludes any assumed share repurchases that would ordinarily be considered under the treasury stock method. Cash-converted basis assumes full cash deployment into ETH at week-ending closing price.
3 As of
4 Total ETH holdings as of
Conference Call Details
Sharplink's executive team will host a conference call followed by a question-and-answer period this morning,
- Date:
Monday, March 9, 2026 - Time:
8:30 A.M. Eastern Time - Toll-free dial-in number: (877) 407-2988
- International dial-in number: (201) 389-0923
- Webcast: Sharplink's FY 2025 Earnings Call
Participants can also access the Company's earnings call using the call me option here for instant telephone access to the event, which will be active 15 minutes before the scheduled start time.
A telephonic replay will be available approximately three hours after the conference call concludes through
- Toll-free replay number: (877) 660-6853
- International replay number: (201) 612-7415
- Replay ID: 13758052
A link to the live webcast and replay will also be available at https://www.sharplink.com/investors.
For more detailed information, please refer to the Annual Report on Form 10-K for the full year ended
About
Sharplink is a leading institutional-grade Ethereum treasury platform designed to give public market investors smarter, more productive exposure to ETH. Ethereum underpins the majority of global stablecoin, tokenized real-world assets and decentralized finance settlement, making ETH a unique native yield generation and long-term network growth opportunity. In addition to its Ethereum treasury platform, Sharplink operates an online affiliate marketing business. Sharplink was founded in 2019 and is headquartered in
Forward-Looking Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and these forward-looking statements are subject to various risks and uncertainties. Such statements include, but are not limited to, goals and expectations regarding the Company’s strategy and potential partnerships, and other statements accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words, but the absence of these words does not mean that a statement is not forward-looking. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to repurchase additional shares of Sharplink’s common stock through its stock repurchase program, potential use of the Company’s ATM facility, the Company’s ability to achieve profitable operations, fluctuations in the market price of ETH that will impact the Company’s accounting and financial reporting (see accounting rules discussed below), government regulation of cryptocurrencies and online betting, changes in securities laws or regulations, customer acceptance of new products and services, the demand for its products and its customers’ economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company, changes in applicable laws or regulations, and its competitors, general economic conditions and other risk factors detailed in the Company’s annual report and other filings with the
CONTACT:
Sharplink’s Investor Relations Contact:
Phone: (720) 330-2829
Email: ir@sharplink.com
Sharplink’s Media Contact:
Email: media@sharplink.com
