Ether Treasury Sharplink’s Q3 Profit Soars 620%—but There’s a Catch

Sharplink reported a Q3 net income of $751.4 million, a more than sevenfold year-over-year increase, driven primarily by unrealized gains on its cryptocurrency holdings. Nasdaq-listed ether treasury company Sharplink reported a more than sevenfold increase in third-quarter net income to $751.4 million. However, nearly most of the profit stemmed from unrealized gains on its cryptocurrency holdings rather than cash-generating operations. According to financial results released Nov. 9 , Sharplink recorded net income of $751.4 million for the three months ended Sept. 30. That compares with net income of $104.3 million, or 62 cents per diluted share, in the third quarter of 2025. The results show that Sharplink recorded $676.7 million in unrealized gains, representing approximately 90% of its reported net income.

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