SharpLink Gaming verzeichnet 103 Mio. Dollar Verlust im Q2 – trotz Aufbau des zweitgrößten ETH-Tresors

Die Gaming-Branche kratzt am Abgrund – während SharpLink Gaming seinen Ethereum-Schatz aufstockt, blutet das Unternehmen rote Zahlen. Ein klassischer Fall von 'Krypto vor Betriebswirtschaft'?

Der zweitgrößte ETH-Tresor der Branche kann nicht über fundamentale Probleme hinwegtäuschen: 103 Millionen Dollar Verlust im zweiten Quartal sprechen eine klare Sprache. Während die ETH-Bestände glänzen, stürzt die Bilanz ins Bodenlose.

Fachkräfte fragen sich: Ist das strategische Weitsicht – oder einfach nur schlechtes Cashflow-Management? Immerhin beweist SharpLink damit, dass selbst die dicksten Krypto-Reserven keine Garantie für Profitabilität sind. Wer braucht schon Gewinne, wenn man HODL kann?

SharpLink posts impairment due to LSETH crash in Q2

The company also took a non-cash impairment of $87.8M on liquid staked ETH (LSETH) due to a drop in LsETH prices during Q2. The impairment was mandatory to report and was among the chief reasons for the loss. SharpLink Gaming is one of the treasury companies aiming for passive income from its ETH, hence its exposure to liquid staking tokens. 

LSETH has since recovered and trades at a premium of $4,865.39, though for accounting purposes, SharpLink had to take the lowest LSETH price for the period. As of Q2, SharpLink reported its LSETH value at $382.4M. 

Due to accounting requirements, SharpLink had to report the impairment at $2,300 per LSETH. However, no LSETH was sold or redeemed during the period. The treasury remains staked, despite the recent shift in LidoDAO deposits and redemptions. 

SharpLink adds to ETH treasury

The competition to add more ETH to treasuries continues, with SBET adding more coins in the past days. 

Corporate treasuries already expanded to 3.70M ETH, with growth going vertical in August. SharpLink Gaming still has the second-biggest treasury at $728.8K, behind BitMine’s reserves of 1.2M ETH. 

On August 15, SharpLink added another 129.7K ETH, its biggest single purchase so far. The new purchases are a sign of increased confidence in ETH, which may lead to an additional recovery for SBET market prices. 

Over the last quarter, SharpLink managed to raise $2.6B during a market favoring the new treasury companies. Q2 saw peak fundraising attempts by the company, a combination of PIPE, ATM, and Registered Direct Offerings. 

While SharpLink’s treasury is not the biggest, the company aims to differentiate itself through partnerships. ConsenSys is one of the main partners for ETH transfers. Additionally, nearly 100% of all ETH acquired is staked, achieving cumulative rewards of 1,326 ETH to date. 

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