SharpLink’s Q3 net profit hits $751 million, revenue up 24% year-on-year

SharpLink reported $13.5 million in revenue for Q3, up 24% year-on-year; staking revenue totaled $13.1 million, up 27% year-on-year. Net income for the quarter was $751 million, with diluted earnings per share of $3.45, compared to $104 million in net income a year earlier. This net income consisted primarily of: (i) $677 million in unrealized gains from changes in the fair value of its ETH holdings, and (ii) $75.2 million in realized gains from crypto asset trading. General and administrative expenses amounted to $11 million, down 8% year-on-year. As of September 30, the company’s cash and cash equivalents stood at $47.9 million.