SharpLink Gaming Reports Explosive Q3 Growth Fueled by Ethereum Strategy

SharpLink Gaming delivered a standout performance in Q3 2025, reporting $10.8 million in revenue—an astonishing 1,100% year-over-year surge—driven largely by its aggressive Ethereum-focused treasury management strategy. The company’s net income soared to $104.3 million, or $0.62 per diluted share, marking a dramatic turnaround from the $885,000 net loss recorded in the same period last year. This shift underscores how SharpLink’s pivot toward institutional Ethereum investment and DeFi yield opportunities has reshaped its financial trajectory.

By September 30, 2025, SharpLink’s crypto treasury neared $3 billion in total value, supported by extensive ETH holdings that grew from 817,747 ETH at the end of Q3 to 861,251 ETH by November 9. The company held an additional $11.1 million in cash and $26.7 million in USDC, emphasizing a well-diversified digital asset portfolio. Most of its Ethereum stack is actively deployed in yield-generating staking mechanisms, enabling steady returns while maintaining long-term exposure to ETH.

A key component of its strategy includes a $200 million Ethereum deployment on Consensys’ Linea, a fast and cost-efficient zkEVM Layer 2 network. By leveraging ether.fi and EigenCloud, SharpLink combines liquid staking with EigenLayer restaking, enabling multiple yield streams through Actively Validated Services. Anchorage Digital serves as custodian, ensuring institutional-grade security for these on-chain assets.

Capital management also played a significant role in SharpLink’s momentum. The company initiated a massive $1.5 billion stock repurchase program, buying back nearly two million shares in Q3, and later executed a $76.5 million direct offering at a 12% premium—highlighting strong investor confidence in its ETH-linked financial model. In addition, SharpLink expanded its on-chain presence by launching tokenized SBET in partnership with Superstate, offering new blockchain-based engagement opportunities for shareholders.

To support its rapid growth, SharpLink strengthened its leadership team with high-profile hires from FalconX, Bain Capital Crypto, Consensys, and JPMorgan. With a Q3 earnings call scheduled for November 13, 2025, analysts are expected to focus on the durability of SharpLink’s DeFi-driven treasury strategy, evolving regulations, and future expansion into Ethereum-based financial products.