Net profit reaches $751 million, SharpLink's Q3 revenue up 24% year-over-year

Odaily reports: SharpLink's third-quarter revenue was $13.5 million, up 24% year-over-year, of which staking revenue was $13.1 million, up 27% year-over-year. The company's net profit for the quarter was $751 million, with diluted earnings per share of $3.45; net profit for the same period last year was $104 million. Net profit primarily came from $677 million in unrealized gains driven by the increase in the fair value of its ETH holdings, as well as $75.2 million in realized crypto asset gains. Administrative expenses were $11 million, down 8% year-over-year; as of September 30, the company held $47.9 million in cash and cash equivalents.