Sharplink's first-quarter revenue increased to $12.1 million, with an ETH reserve of 873,000 coins

BlockBeats News, May 11, Sharplink announced its first-quarter 2026 financial report. As of now, the company's ETH reserve has reached 872,984 coins, the total staking reward has increased to 18,800 ETH, and it continues to expand on-chain deployment and ETH yield strategy.

The financial report shows that Sharplink's first-quarter revenue surged year-on-year to $12.1 million, compared to only $0.7 million in the same period of 2025, mainly benefiting from its actively managed ETH treasury strategy. The company's SG&A expenses were $9.9 million, higher than $1.1 million in the same period last year, mainly used to expand institutional-grade ETH asset management infrastructure, talent, and system development.

The company's first-quarter net loss was $685.6 million, mainly from unrealized losses and impairments due to ETH's market volatility. This includes:

Approximately $506.7 million unrealized loss on ETH;
Approximately $191.7 million impairment on LsETH;
Approximately $12 million realized gains from ETH and LsETH conversions and other operations.

Sharplink emphasized that the above losses are mainly due to the accounting treatment under U.S. GAAP and do not represent actual sale of ETH or permanent economic loss, nor have they reduced the company's ETH holdings.

Sharplink CEO Joseph Chalom stated that the company has expanded from basic ETH staking to a broader range of on-chain yield opportunities and will deploy ETH capital to institutional DeFi yield strategies through the Galaxy Sharplink Onchain Yield Fund launched in partnership with Galaxy.