Ethereum treasury company Sharplink posts third-quarter net profit of $751.4 million

on Nov. 9, according to The Block, Ethereum treasury company Sharplink reported Q3 revenue of $13.5 million and net income of $751.4 million, compared to $104.3 million in net income a year ago. The profit was primarily driven by $676.7 million in unrealized gains on its held ETH and $75.2 million in realized gains on crypto assets.

As of Sept. 30, Sharplink held approximately 892,708 ETH, with total crypto asset value of approximately $2.1 billion. The company also completed staking $200 million worth of ETH via Lido and began deploying funds through its $125 million Galaxy Sharplink on-chain yield fund.