SharpLink Gaming reported a staggering ~1,100% year-over-year increase in third-quarter revenue, a surge the company attributes to its Ethereum-centered treasury strategy as the crypto rally boosted its holdings’ value.
Key Takeaways:
- SharpLink reported around $10.8 million in Q3 2025 revenue, up from roughly $0.9 million a year earlier, logging around 1,100% increase boosted by Ethereum holdings and related gains.
- The company’s ETH-backed treasury was the main contributor to both revenue growth and net income, showcasing how corporate crypto portfolio exposure can amplify financial performance.
- Ethereum trades near $3,500 at the time of writing (12:15PM UTC), reflecting approximately 2.40% gain in the day.
On its Q3 2025 report earlier today, November 13, SharpLink Gaming (NASDAQ: SBET) announced an explosive rise in revenue to about $10.8 million, a notable ~1,100% increase from the same period in 2024. The company gave primary credit to its Ethereum treasury, which made a strategical expansion over the past 12 months. This milestone is also announced on the company’s official X (formerly Twitter) account, where it provided a note that the summed ETH holdings are made up of native ETH and “as if” redeemed LsETH.
SharpLink’s management emphasized that the decision to include digital assets into its balance sheet has become a key revenue driver, turning the company’s crypto holdings into a notable performance. The firm has been consistent with its Ethereum investment throughout 2025, aligning with a growing trend of corporations diversifying into digital assets for both yield and appreciation potential.
Market Rebound Strengthens Ethereum-Linked Gains
As of this writing (12:15PM UTC), Ethereum (ETH) is trading at approximately $3490.90, showing a 2.25% price increase over the past 24 hours according to real-time market data provided by TradingView. The 1-day chart reveals that the token peaked intraday high at $3,564.8, while recording intraday lows around $3,377.0, which demonstrates its current strength in holding steady in its price.
This current upward momentum has directly boosted SharpLink’s financial results through unrealized and realized gains tied to its ETH holdings. With SharpLink’s assets marked to market, even a 10% swing in ETH prices could heavily make an immediate impact to the upcoming quarterly results, either as a major earnings uplift or a swift reversal.
Analysts Highlights Dual Edge of Crypto Exposure
Following the report, analysts commended SharpLink’s treasury strategy for delivering significant short-term gains. However, warnings are still present, particularly that it introduces volatility into future earnings. Experts also noted that the firm’s reliance on Ethereum mirrors a broader corporate shift toward holding digital assets, which is an increasingly and common strategy among firms finding alternative treasury diversification.
SharpLink has not issued new forward guidance but reaffirmed its confidence in Ethereum’s long-term fundamentals, citing the token’s continued role in DeFi, smart contracts, and institutional adoption as key reasons for maintaining its holdings.
What Comes Next for SharpLink and Ethereum?
SharpLink’s record-breaking quarter underscores the upside potential of a well-timed crypto portfolio allocation during a bull market. Yet, the company’s financial future remains highly sensitive to Ethereum’s market performance.
If ETH sustains its rally above the $3,500 mark, SharpLink could extend its profit streak into Q4 2025. Conversely, a sharp correction could quickly erase recent gains. As investor attention shifts to the broader cryptocurrency market’s next move, SharpLink’s treasury experiment will continue to serve as a case study for the risks and rewards of corporate crypto exposure.
Summary
SharpLink Gaming’s Q3 revenue jumped roughly 1,100% to about $10.8M, a surge the company attributes to gains from an Ethereum-focused treasury as ETH’s recent rally boosted its holdings and income.
