The effectiveness of SharpLink Gaming's strategy of betting on Ethereum is becoming evident, as the company reports a strong turnaround in Q3 2025 thanks to outstanding performance from its crypto asset portfolio. Q3 2025 revenue ending on 30/9( reached 10.8 million USD, an increase of 1,100% compared to the 0.9 million USD in the same period last year.
This breakthrough mainly stems from the strong performance of the amount of ETH that SharpLink holds and the way the company implements its asset strategy within the Ethereum ecosystem.
ETH strategy becomes the focus of Q3 business results
According to the press release, net profit in the quarter surged to 104.3 million USD, equivalent to 0.62 USD per fully diluted share — a complete turnaround from the loss of 885,000 USD in Q3 2024. As of September 30, the total crypto assets held by SharpLink reached 3 billion USD, including 817,747 ETH in native and liquid staking.
As of November 9, the company's ETH position continues to rise to 861,251 ETH. Additionally, SharpLink holds 11.1 million USD in cash and 26.7 million USD USDC on the balance sheet.
CEO Joseph Chalom commented:
“SharpLink is pioneering a new model for listed ETH treasury companies — combining the flexibility of active asset management with the transparency of a public company. The ability to manage capital flexibly, implement complex yield strategies, and collaborate with leading names in the Ethereum ecosystem is positioning SharpLink at the forefront as the institutional super cycle of Ethereum accelerates.”
Strategic Steps of SharpLink
In business activities, the company has undertaken a series of important measures to consolidate its position as one of the leading Ethereum treasury operators.
In August, the Board of Directors approved a share buyback program worth 1.5 billion USD. By the end of the quarter, the company had repurchased 1.94 million shares at a total value of approximately 31.6 million USD.
In September, SharpLink — a company listed on Nasdaq — partnered with Superstate to launch SBET in the form of tokenization on Ethereum. In October, the company appointed Matthew Sheffield as Chief Investment Officer )CIO(, Mandy Campbell as Chief Marketing Officer )CMO(, and Michael Camarda as Chief Data Officer )CDO(. During this time, SharpLink completed a direct offering worth 76.5 million USD, priced 12% higher than the stock price and above the net asset value )NAV( of the ETH treasury.
Thach Sanh
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