SharpLink posts $394.3M Q2 net loss amid Ethereum holdings buildout

SharpLink (SBET), a Nasdaq-listed company pursuing an Ethereum treasury strategy, posted a second-quarter net loss of $394.3 million, the company announced on Aug. 10. Second-quarter revenue totaled $11.5 million, including $11.2 million from ETH staking. The net loss included $321 million in unrealized crypto losses and $76.1 million in impairment charges tied to LsETH and weETH. SharpLink held 886,881 ETH at the end of the second quarter, with holdings rising to about 888,938 ETH as of Aug. 3.