Ethereum treasury firm Sharplink (Nasdaq: SBET) has released its third quarter 2026 results, showing a sharp jump in profit compared with the $104.3M it earned a year earlier.

Net income reached $751.4M, or $3.45 per diluted share, with $676.7M coming from unrealized gains on crypto assets and $75.2M from realized gains.

Revenue rose 24% to $13.5M, almost entirely from staking ($13.1M), while SG&A fell 8% to $11.0M. The company held about 892,708 ETH at the end of September and 895,117 ETH as of November 2, after staking $200M of ETH through Lido and starting deployments via the Galaxy Sharplink Onchain Yield Fund.

Unrealized gains reflect ETH price moves rather than cash or extra tokens, so the headline profit can reverse in a weaker quarter. Cash stood at $47.9M.