Source published Nov. 9, 2026, at 23:39:28 UTC+8. Balance-sheet figures below are as of Sept. 30, 2026.
Ether gains dominate reported earnings
Ethereum treasury company Sharplink reported third-quarter net income of $751.4 million, compared with $104.3 million a year earlier, according to The Block. The result was largely driven by $676.7 million in unrealized gains on its ether holdings and $75.2 million in realized crypto gains.
Sharplink held approximately 892,708 ETH as of Sept. 30. Its overall crypto assets were valued at approximately $2.1 billion under U.S. GAAP measures. Cash and cash equivalents totaled $47.9 million, up from $28.5 million on Dec. 31, 2025.
The earnings composition matters: the reported profit primarily reflected crypto gains, rather than revenue from operations, and most of those gains were unrealized.
Staking revenue and treasury deployment
Third-quarter revenue totaled $13.5 million, slightly above estimates. The source describes the 24% revenue increase as year over year in its opening summary but quarter over quarter later in the article; the comparison period is therefore inconsistent in the supplied report. Staking revenue rose 27% to $13.1 million, though the source does not specify that increase’s comparison period.
Sharplink said it completed a $200 million ETH staking allocation through Lido and began deployments through its $125 million Galaxy Sharplink Onchain Yield Fund.
CEO Joseph Chalom described the company’s priorities as increasing the productivity of its ETH holdings, maintaining disciplined capital allocation and supporting Ethereum’s ecosystem. Chairman and Ethereum cofounder Joseph Lubin said Sharplink was positioned to participate in Ethereum’s growth through its actively managed treasury, citing accelerating institutional adoption and increasing onchain economic activity. Those statements represent management’s assessment.
Share-price snapshot
At the source’s publication time, SBET traded around $6.20, little changed on the day and down 36% year to date. That equity-market snapshot is separate from the company’s reported quarterly crypto gains.