SharpLink, Inc. (Nasdaq: SBET) reported third-quarter 2026 net income of $751.4 million, or $3.45 per diluted share, a sharp increase from $104.3 million in the prior-year period. The result was driven mainly by $676.7 million in unrealized gains on the company’s Ethereum holdings and $75.2 million in realized crypto gains.
Total revenue increased 24% year over year to $13.5 million, slightly above estimates, while staking revenue grew 27% to $13.1 million. SharpLink held approximately 892,708 ETH as of Sept. 30, with total crypto assets valued at about $2.1 billion under U.S. GAAP. Cash and cash equivalents rose to $47.9 million from $28.5 million at the end of December 2025.
The company also completed a $200 million ETH staking allocation through Lido and began deployments via the $125 million Galaxy SharpLink Onchain Yield Fund. CEO Joseph Chalom said the company is focused on maximizing the productivity of its ETH holdings, maintaining disciplined capital allocation, and supporting the broader Ethereum ecosystem. Chairman Joseph Lubin added that accelerating institutional adoption and onchain economic activity position SharpLink to participate in Ethereum’s continued growth.
SBET shares traded around $6.20, little changed on the day and down 36% year to date. The results reinforce the corporate Ethereum treasury model as an intersection of traditional finance and decentralized digital assets.
