Sharplink Q1 Revenue Crosses $12 Million as Ethereum Yield Strategy Expands

Sharplink reported first-quarter 2026 revenue of $12.1 million, marking a major increase from $742,000 recorded during the same period last year. The growth was mainly supported by income generated from Ethereum staking, reflecting the company’s expanding digital asset treasury strategy.

The firm currently holds 872,984 ETH as of May 4, valued at nearly $2.4 billion at recent market prices. This keeps Sharplink in the position of the second-largest publicly traded Ethereum treasury company.

Despite stronger revenue, the company posted a net loss of nearly $686 million during the quarter. Most of the losses came from unrealized declines in Ethereum prices after ETH dropped sharply from around $3,000 at the start of 2026 to nearly $2,000 by the end of the quarter.

Ethereum Yield Strategy Moves Beyond Staking

Sharplink executives said the company is now focusing on more balanced onchain yield opportunities instead of relying only on staking rewards. Chief Executive Officer Joseph Chalom described the approach as aiming for steady returns through “singles and doubles,” rather than high-risk strategies.

Galaxy Partnership Expands DeFi Exposure

Sharplink also announced a new $125 million fund with Galaxy Digital to explore decentralized finance liquidity and Ethereum yield opportunities while maintaining strong risk controls.