How Crypto Drove Sharplink Gaming Stock Up 50% Last Week
SharpLink Gaming stock (NASDAQ:SBET) has risen by nearly 50% in the last week and has increased over 100% in the previous month. So, what developments have occurred for the company recently? The gains are fueled by investor excitement regarding the company's ambitious venture into Ethereum. As of July 13, 2025, the firm possessed 280,706 ETH, which it claims makes it one of the largest corporate holders of the cryptocurrency.
Initially centered on online gaming and sports wagering, SharpLink has increasingly shifted its focus towards blockchain-based finance while also incorporating blockchain technology into its betting experience. The company has also implemented an aggressive ETH staking strategy, with more than 99% of its holdings allocated to staking protocols to generate yield. Since initiating the strategy last month, it has produced over 400 ETH in staking rewards. (related:Nvidia Stock To $200 As H200 Exports To China Resume?)
Is SharpLink Stock Attractive?
SharpLink Gaming is challenging to value using standard financial metrics, as the stock is increasingly perceived not as a typical business, but rather as a proxy for its significant crypto assets. Over the past three years, SharpLink Gaming has experienced an average revenue growth rate of 19.6%, in contrast to a 5.5% increase for the S&P 500, although sales have fallen by 27.0% over the last 12 months to roughly $5 million. The company's current market capitalization exceeds $2 billion, leading to a price-to-sales ratio of about 400x.
SharpLink Gaming's profit margins are significantly poorer than those of most companies within the Trefis coverage universe, with an Operating Income of $-4.0 million over the past four quarters. However, SharpLink Gaming's balance sheet appears robust, as the company has no debts.
Given the company's shift in focus, a more pertinent metric might be the 'ETH Concentration,' which the company defines as the ETH held per 1,000 diluted shares. This metric has increased by 23% since mid-June, providing shareholders with greater exposure to the cryptocurrency. For investors wishing to benefit from Ethereum's long-term potential through a regulated equity vehicle, without directly holding crypto assets, SharpLink may offer a high-risk, high-reward alternative.
Are you concerned about the unpredictable nature of SBET stock? The Trefis High Quality (HQ) Portfolio, comprising 30 stocks, has consistently outperformed the S&P 500 over the past 4-year period. What accounts for this? As a whole, HQ Portfolio stocks have delivered superior returns with less risk compared to the benchmark index; a smoother ride, as shown in HQ Portfolio performance metrics.
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