SharpLink Gaming reported a staggering 1,100% year-over-year increase in Q3 2025 revenue, reaching $10.8 million, as its Ethereum-focused treasury approach propelled net income to $104.3 million. The surge reflects both gains in ETH prices and the company’s strategic deployment of crypto assets into DeFi yield-generating protocols.
As of November 9, 2025, SharpLink’s Ethereum holdings grew to 861,251 ETH, up from 817,747 ETH at the end of September. Total crypto assets across the company’s balance sheet are valued at nearly $3 billion, signaling the growing role of digital assets in corporate treasury management.
Financial Performance Driven by Ethereum Strategy
For Q3 ending September 30, 2025, SharpLink reported net income of $104.3 million (or $0.62 per fully diluted share), a sharp turnaround from a net loss of roughly $885,000 during the same quarter last year.
The company also held $11.1 million in cash and $26.7 million in USDC stablecoins, with the bulk of its Ethereum treasury deployed into yield-optimizing strategies. According to SharpLink, most of the ETH assets were staked and restaked to generate additional returns while maintaining long-term exposure.
Reflecting investor confidence, SharpLink completed a $76.5 million direct stock offering in October 2025, priced at a 12% premium to market value. Additionally, the firm initiated a $1.5 billion stock repurchase program, spending $31.6 million to buy back nearly 1.94 million shares during the quarter. These capital moves underscore the appeal of ETH-linked corporate exposure for institutional investors.
Deploying Ethereum on Linea for DeFi Yields
A central pillar of SharpLink’s treasury strategy is a $200 million deployment of ETH on Consensys’ Linea platform, a zkEVM Layer 2 solution that provides full Ethereum compatibility with low fees and fast settlement.
SharpLink leverages ether.fi and EigenCloud for institutional-grade staking and restaking services. By combining liquid staking with EigenLayer’s Actively Validated Services (AVS), SharpLink earns multiple yield streams on top of standard ETH staking rewards. Anchorage Digital provides secure custody and compliance support, ensuring regulatory standards are met.
This approach mirrors a 2025 trend of public companies using DeFi protocols to enhance treasury returns, while early adoption of zkEVM technology positions SharpLink to benefit from Ethereum’s scaling upgrades.
In addition, the company launched tokenized SBET on Ethereum through a partnership with Superstate, expanding on-chain engagement opportunities for shareholders.
Executive Appointments and Strategic Outlook
SharpLink strengthened its leadership with key hires from top financial and crypto firms. Matthew Sheffield joins as Chief Investment Officer, Mandy Campbell as Chief Marketing Officer, and Michael Camarda as Chief Data Officer. These appointments bring expertise from FalconX, Bain Capital Crypto, Consensys, and JPMorgan, emphasizing SharpLink’s focus on institutional partnerships, asset management, and blockchain infrastructure.
The company plans a conference call on November 13, 2025, to discuss Q3 results and future outlook. Analysts and investors are expected to evaluate the sustainability of the DeFi yield model, the regulatory landscape for public crypto holdings, and opportunities for additional ETH deployments.
Conclusion
SharpLink’s Q3 performance demonstrates the potential of strategic Ethereum treasury management in driving both revenue and profitability for public companies. By integrating Layer 2 protocols, staking, and restaking solutions, SharpLink has turned its ETH exposure into a core revenue engine, highlighting the evolving role of corporate crypto strategies in traditional finance.
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