According to SharpLink's 2025 annual report, the Consensys-backed Ethereum treasury company recorded a net loss of $734 million in 2025, compared to a net profit of $10.1 million in 2024. The loss was primarily due to accounting adjustments resulting from the decline in ETH prices in the second half of the year, including $616 million in unrealized losses and $140 million in LsETH impairment losses. Despite the book loss, SharpLink raised approximately $3.2 billion in funding in 2025 and held 864,597 ETH at the end of the year. Since launching its treasury strategy in June 2025, the company has earned 14,516 ETH in staking rewards through native staking and liquidity staking. Furthermore, the company's institutional ownership surged from 6% at the beginning of the year to 46%. CEO Joseph Chalom stated that 2025 was a pivotal year for the company's transformation into an institutional-grade Ethereum treasury platform. (The Block)