SharpLink’s Ethereum Bet Pays Off: Massive Q3 Profit and 1,100% Revenue Jump
SharpLink Gaming reported Q3 2025 revenue of $10.8 million, marking a staggering 1,100% year-over-year increase. The company's innovative Ethereum-focused treasury strategy resulted in a net income of $104.3 million, significantly contrasting last year's same-quarter loss of $885,000. SharpLink's crypto assets, including nearly 3 billion USD and a growing ETH position (861,251 tokens by November 9), were largely allocated to yield-generating staking mechanisms. A $1.5 billion stock repurchase program and a $76.5 million stock offering underscored investor confidence in ETH-linked equity. The company also committed $200 million to deploy Ethereum on Consensys' Linea Layer 2 platform, blending staking and restaking strategies through Ether.fi and EigenCloud for enhanced Treasury returns. Additionally, SharpLink launched tokenized SBET on Ethereum and brought in key executives from leading crypto and financial firms. A conference call is scheduled for November 13, 2025, to discuss the Q3 results and future outlook focused on DeFi protocols and Ethereum scalability.
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Record-Breaking Revenue and Income Growth
SharpLink Gaming posted Q3 2025 revenue of $10.8 million, marking a staggering 1,100% year-over-year increase. The company's net income for the quarter reached $104.3 million, driven by its Ethereum-focused treasury strategy. This represents a sharp contrast to the $885,000 net loss reported during the same quarter last year. Earnings per share amounted to $0.62 per fully diluted share, highlighting the significant financial turnaround.
Ethereum Holdings and Financial Position
As of September 30, 2025, SharpLink Gaming held $11.1 million in cash and $26.7 million in USDC stablecoins, alongside its substantial Ethereum (ETH) position. The company's ETH holdings increased from 817,747 tokens on September 30 to 861,251 ETH by November 9, 2025. Most of these holdings were deployed into yield-generating staking mechanisms, providing an innovative way to optimize returns. The combined value of the company’s crypto assets is nearly $3 billion, showcasing its deep commitment to Ethereum-powered investment strategies.
Stock Repurchase and Capital Raise Initiatives
SharpLink announced a $1.5 billion stock repurchase program, spending $31.6 million to buy back 1,938,450 shares during Q3 2025. Additionally, in October 2025, the company completed a $76.5 million direct stock offering at a 12% premium to market price, reflecting strong investor demand for ETH-linked equity exposure. These aggressive financial moves underline SharpLink’s confidence in its treasury strategy and its ability to attract institutional capital.
ETH Deployment into DeFi Yield Strategies
SharpLink committed $200 million to deploy Ethereum onto Consensys' Linea platform, a zkEVM Layer 2 solution offering low fees and fast settlement speeds. The Linea network reportedly achieves up to 10 times faster zero-knowledge proving than general zkVMs, making it advantageous for DeFi applications.
Using platforms like ether.fi and EigenCloud, SharpLink combines liquid staking with restaking via EigenLayer’s Actively Validated Services (AVS). This approach unlocks additional yield streams beyond standard staking rewards. Anchorage Digital serves as a compliance-focused custody partner, ensuring security and regulatory adherence. SharpLink’s integration of zkEVM technology aligns its treasury strategy with Ethereum’s scaling developments.
Enhanced Shareholder Engagement and Tokenized SBET
In collaboration with Superstate, SharpLink launched the tokenized SBET on Ethereum, fostering greater on-chain activity. This initiative provides new engagement opportunities for shareholders within the Ethereum ecosystem. Such steps demonstrate SharpLink’s commitment to blending traditional equity models with blockchain innovations, positioning it as a leader in institutional crypto adoption.
Leadership Expansion and Strategic Direction
SharpLink strengthened its leadership team with key hires, including:
- Matthew Sheffield as Chief Investment Officer
- Mandy Campbell as Chief Marketing Officer
- Michael Camarda as Chief Data Officer
These executives bring experience from top financial and crypto firms like FalconX, Bain Capital Crypto, Consensys, and JPMorgan. This strategic leadership expansion demonstrates the company’s focus on asset management, institutional partnerships, and blockchain infrastructure. A conference call on November 13, 2025, at 8:30 a.m. ET, will provide further insights into the company’s Q3 results and future outlook.