Nasdaq-listed SharpLink announced plans to stake $200 million of ETH through Lido protocol, receiving wrapped staked ETH (wstETH) in return. According to the latest announcement, Anchorage Digital will custody the wstETH tokens, adding Lido to SharpLink's existing institutional staking and restaking strategy. The transaction represents a deployment of SharpLink's existing Ethereum treasury rather than a new ETH purchase, with the company holding 888,938 ETH and ETH equivalents as of August 3. CEO Joseph Chalom stated the Lido allocation would make SharpLink's ETH "even more productive" and provide access to wstETH's DeFi integrations.
SharpLink posted a $394.3 million net loss for the second quarter, compared with $103.4 million in the same period of 2025. According to reports from Crypto.news, the company recorded a $321 million unrealized loss on assets measured at fair value as ETH traded lower during the quarter. Additionally, $76.1 million in impairment charges were applied to its LsETH and weETH positions, with both charges being non-cash items that did not reduce the number of ETH or ETH-equivalent tokens controlled.
Despite significant losses, SharpLink's revenue reached $11.5 million during the three months ended June 30, representing a substantial increase from approximately $697,000 one year earlier. As reported by Crypto.news, staking supplied $11.2 million of the quarterly revenue, with staking revenue for the first half of 2026 reaching $22.7 million. The company's diluted loss per share was $1.88, compared with $4.27 per share in the same period of 2025. SharpLink shares rose 2.3% to $6.32 on August 13 following the staking announcement.
SharpLink controlled approximately 886,881 ETH and ETH equivalents as of June 30, consisting of 632,784 native ETH, 181,321 ETH represented by LsETH on an as-if-redeemed basis, and 72,776 ETH represented by weETH. According to Crypto.news, the company's crypto portfolio carried a combined value of approximately $1.4 billion under U.S. GAAP, with assets measured at fair value accounting for $988.8 million and crypto assets held at cost accounting for $369.1 million. Total assets declined to $1.42 billion from $2.43 billion at the end of 2025.
The new Lido allocation expands SharpLink's treasury strategy that already includes native staking, liquid staking, and restaking programs. The company previously allocated $200 million of ETH to Linea restaking programs involving ether.fi and EigenCloud, and committed $100 million to a Galaxy-managed $125 million onchain yield fund. Lido reports approximately $16.5 billion of ETH currently staked through its protocol, with liquid staking assets integrated across more than 100 protocols and about $10 billion actively used as collateral. However, the company has not disclosed specific DeFi protocols where it will deploy the new wstETH tokens.
