SharpLink Rakes in $104M Windfall as Ethereum Treasury Bet Delivers Massive Returns

SharpLink just turned crypto-skeptics into believers—posting a staggering $104 million profit fueled by its aggressive ETH treasury strategy. While Wall Street hedgies were busy shorting Bitcoin ETFs, this playbook proves decentralized finance isn't just surviving—it's printing money.

How? By doubling down on Ethereum's ecosystem during the last market dip. Now, as ETH flirts with new yearly highs, SharpLink's balance sheet looks like a masterclass in asymmetric bets. Traders who dismissed 'magic internet money' are now scrambling to copy the play.

Of course, the real question is whether this was skill or luck—after all, even a monkey throwing darts could've made bank in 2025's bull run. But try telling that to shareholders counting their stacks.

ETH treasury drives explosive growth

SharpLink’s total revenue jumped to $10.8 million in Q3 2025, compared to just $0.9 million in the same period last year—a gain of over 1,100%. Consequently, net income soared to $104.3 million, or $0.62 per diluted share, reversing a prior-year loss of $885,000.

As of September 30, 2025, SharpLink held 817,747 ETH, which increased to 861,251 ETH by November 9. The company also had $11.1 million in cash and $26.7 million in USDC. 

Additionally, SharpLink earned 492 ETH in staking rewards last week alone, pushing total rewards to 7,067 ETH since June 2025. Each reward cycle compounds the treasury’s growth, adding to its long-term value. “Every reward earned is added back into staking, which lets the total balance grow week after week,” the company explained.

NEW: SharpLink generated 492 $ETH from staking rewards last week.

That brings the total cumulative rewards to 7,067 $ETH since launching the strategy on June 2, 2025.

Our $ETH remains fully staked and keeps compounding value for shareholders in the best risk-adjusted way.

The… pic.twitter.com/RpYvvEaetU

Expanding strategy and market presence

SharpLink took steps to strengthen its financial position. In August, the board approved a $1.5 billion stock buyback plan. By the end of the third quarter, the company had bought back about 1.94 million shares for $31.6 million. In September, SharpLink also worked with Superstate to launch a tokenized version of its SBET stock on the Ethereum blockchain.

In October, SharpLink raised $76.5 million by selling shares directly at a 12% premium over its market price. The company also added Matthew Sheffield from FalconX as Chief Investment Officer and Mandy Campbell, who was formerly with Bain Capital Crypto, as Chief Marketing Officer.

Moreover, SharpLink’s also said in late October that it plans to deploy $200 million worth of Ethereum on Linea, a zkEVM LAYER 2 network, showing its focus on growing steady DeFi returns. Chalom said, “Our ability to dynamically manage capital and partner with the most revered names in the Ethereum ecosystem puts SharpLink in pole position as the Ethereum institutional supercycle accelerates.”

Recently, CIO Matt Sheffield also addressed rumors of large ETH transfers to OKX. He was quick to defend, clarifying that all Ethereum holdings remain fully staked and no movement occurred, reinforcing transparency and trust among investors.

This is an incorrectly tagged wallet on @arkham. Does not belong to Sharplink. https://t.co/TQPn649NdE

According to Yahoo Finance, SharpLink Gaming (SBET) closed at $11.57, up $0.01 (0.09%) at 4:00 PM EST. Overnight, shares ROSE $0.27 (2.33%) to $11.84, showing slight positive movement in trading.

SharpLink’s focused Ethereum strategy highlights how public companies can use blockchain in practical ways. Its results show that careful management and transparency, rather than speculation, can turn crypto assets into steady business growth.

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