SharpLink reported third-quarter net income of $751.4 million, with diluted earnings per share of $3.45, compared to $104.3 million in the same period last year. The profit surge was driven primarily by $676.7 million in unrealized gains from rising fair value of its ETH holdings and $75.2 million in realized crypto asset gains.
Quarterly revenue reached $13.5 million, up 24% year-over-year from $10.8 million, led by staking revenue of $13.1 million, which grew 27%. Administrative expenses declined 8% to $11 million. As of September 30, the company held $47.9 million in cash and cash equivalents.
SharpLink Posts $751M Net Income in Q3 on ETH Fair Value Gains, Revenue Up 24%
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
