Ethereum News Today: SharpLink's Crypto Bet Pays Off: $104M Profit Smashes Forecasts

SharpLink Gaming, Inc. (Nasdaq: SBET) reported a net income of $104.3 million for the third quarter of 2025, a dramatic turnaround from a net loss of $885,000 in the same period the prior year, according to a GlobeNewswire release. The Minneapolis-based company, which holds one of the largest corporate ETH treasuries, attributed its performance to the execution of its Ethereum-focused treasury strategy. Total revenue surged to $10.8 million in Q3 2025, a 1,100% increase from $0.9 million in Q3 2024, per a Marketscreener report, driven by gains from staking and yield-generating activities tied to its crypto holdings.

The company's ETH holdings expanded significantly, rising from 817,747 coins as of September 30, 2025, to 861,251 ETH by November 9, 2025, according to a MarketBeat alert. This growth reflects a doubling of ETH per share concentration since the inception of the treasury strategy. SharpLink has deployed nearly all its ETH into staking and liquid staking derivatives (LsETH), with plans to allocate an additional $200 million in ETH to Consensys' Linea platform via ether.fi and EigenCloud to enhance DeFi yields, as noted in the GlobeNewswire release.

Joseph Chalom, Co-CEO of SharpLink, emphasized the company's focus on long-term value creation. "Our ability to dynamically manage capital and partner with leading names in the Ethereum ecosystem positions us to capitalize on the institutional supercycle," he stated, in a Investing.com article. The company's crypto assets are valued at $3.0 billion, with $26.7 million in USDC stablecoins and $11.1 million in cash as of September 30, 2025, according to the GlobeNewswire release.

SharpLink's aggressive capital allocation strategy includes a $1.5 billion stock repurchase program authorized in August 2025. By September 30, the company had repurchased 1.9 million shares for $31.6 million, according to the GlobeNewswire release. In October, it completed a $76.5 million registered direct offering at a 12% premium to its share price and expanded its executive team with appointments from FalconX, Bridgewater, and JPMorgan, as reported in the Investing.com article.

The company also announced a partnership with Superstate in September to tokenize its shares on Ethereum and a collaboration with Consensys to deploy ETH on Linea, a zkEVM Layer 2 network, according to the GlobeNewswire release. These moves underscore SharpLink's commitment to leveraging blockchain innovation for shareholder value.

A conference call scheduled for November 13, 2025, at 8:30 AM ET will provide further details, according to the GlobeNewswire release. Analysts had previously projected earnings of $0.01 per share and revenue of $9.04 million for Q3 2025, as noted in the MarketBeat alert, underscoring the gap between expectations and actual results.