#BullishIPO SharpLink Gaming (SBET) reported holding 728,804 Ether tokens as of June 30, 2025, following a strategic shift to establish ETH as the primary reserve asset of the treasury in early June.

The company reported a net loss of $103.4 million for the second quarter of 2025 compared to a net loss of $0.5 million for the same period last year. The loss was primarily due to a non-cash impairment of $87.8 million on liquid staking assets of ETH due to price declines during the quarter, as required by U.S. accounting rules.