SharpLink Gaming Posts $10.8M Q3 as Ethereum Treasury Strategy Fuels 1,100% Growth
SharpLink Gaming delivered a standout Q3 2025, reporting $10.8 million in revenue — an 1,100% year-over-year surge — and net income of $104.3 million, or $0.62 per diluted share. Management attributes the spike largely to an aggressive, Ethereum-focused treasury management strategy that materially boosted returns and flipped last year’s $885,000 loss into a hefty profit.
The result underscores how crypto treasuries can rapidly alter financial profiles for gaming firms, but it also raises questions about sustainability and risk exposure. Heavy ETH positioning amplifies upside in a bull market while increasing vulnerability to volatility and regulatory shifts. Investors should watch subsequent disclosures and cash-flow statements to judge whether gains reflect recurring operating strength or mark-to-market treasury gains.