Sharplink posts $734.6M net loss for 2025 as Ethereum slump triggers major paper hit

Ethereum treasury firm Sharplink reported a $734.6 million net loss for 2025, mainly from a $616.2 million unrealized loss on its 868,699 ETH holdings and a $140.2 million impairment tied to staked Ether. Despite Ethereum's swing from $4,829 in August 2025 to roughly $3,000 at year-end, the company says it will keep accumulating ETH while boosting revenue and its Ether-per-share ratio.