Consensys-backed SharpLink reports $734 million loss as ETH holdings climb
Consensys-backed SharpLink reported a $734.6 million net loss for 2025, primarily due to ETH price declines impacting accounting adjustments.Summary
SharpLink Inc., the Consensys-backed Ethereum treasury firm, announced its full-year 2025 results, revealing a significant net loss of $734.6 million, a sharp reversal from $10.1 million in net income in 2024. This loss was largely attributed to accounting adjustments stemming from ETH price volatility, including $616 million in unrealized losses and a $140 million impairment charge related to its LsETH liquid staking token.
Operationally, the company saw substantial growth in its ETH accumulation, ending 2025 holding 864,597 ETH (with recent figures near 868,699 ETH) after raising $3.2 billion in capital. SharpLink also generated 14,516 ETH in staking rewards since June 2025 and doubled its internal metric of "ETH per share" to over 4.0. Revenue increased to $28.1 million in 2025, driven significantly by staking income.
CEO Joseph Chalom called 2025 a "defining year" as the firm transitioned into an institutional-grade platform, evidenced by institutional ownership rising from 6% to 46%. Despite the accounting loss, Chairman Joseph Lubin emphasized that the strategy aligns with the accelerating institutional adoption supercycle on Ethereum.
(Source：The Block)