SHARPLINK INC (SBET)
Consumer Discretionary · Cryptocurrency treasury management and digital asset holding company · NASDAQ
Sharplink is a publicly traded Ethereum treasury company and iGaming affiliate marketer that bets on ETH appreciation and protocol-level staking yields while maintaining a performance-marketing network for sports betting and online casino operators.
What SHARPLINK INC does
Sharplink is a publicly traded company that has undertaken a strategic shift to accumulate Ethereum (ETH) as its primary treasury asset, having become the world's second-largest publicly traded holder of ETH as of early 2026. The company participates in Ethereum's proof-of-stake consensus mechanism through native staking and liquid staking arrangements to generate yield and benefit from ETH price appreciation. Additionally, Sharplink operates an online affiliate marketing business called PAS.net that provides performance-based customer acquisition services and fan activation solutions to sportsbooks and online casino gaming operators globally.
Themes: ["ETH treasury / digital asset accumulation","Ethereum staking / proof-of-stake","Decentralized finance (DeFi)","Web3 / blockchain infrastructure","Affiliate marketing / customer acquisition","iGaming / sports betting"]
Fundamentals
- Price$5.32 as of 2026-07-09 close
- Market cap$1.1B as of 2026-07-10
- 1-year return-68.8% as of 2026-07-09 close
- Net margin-3604.6% as of 2026-07-10
- Gross margin+95.6% as of 2026-07-10
- ROE-73.9% as of 2026-07-10
- Debt / equity0.00 as of 2026-07-10
- Revenue growth (YoY)+1048.5% as of 2026-07-10
- Revenue CAGR (3y)+100.3% SEC XBRL
- Beta10.80 as of 2026-07-10
Key risks (from latest filing)
["Extreme volatility and speculative nature of Ethereum price fluctuations expose the company to substantial losses if ETH appreciates or depreciates significantly","Regulatory uncertainty around crypto assets and Ethereum could materially impact the company's treasury strategy and business model","Dependence on third-party validators, liquid staking protocols, and custodian arrangements introduces operational and counterparty risks to staking returns and fund security"]
Competitors & peers
- Grayscale Bitcoin Trust
- MicroStrategy (MSTR)
- Marathon Digital Holdings (MARA)
- Coinbase (COIN)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.