According to CoinMeta, Sharplink released its financial report for the second quarter, which showed a loss of $394.3 million due to the decline in the price of ETH. The report indicated that revenue for the second quarter was $11.5 million, a significant increase from $697,000 in the same period last year. Most of the loss came from its holdings of cryptocurrencies, rather than operating expenses. The company recorded an unrealized loss of $321 million during this quarter, in addition to a write-down of $76.1 million. Sharplink stated that these expenses were non-cash items and did not reduce the number of ETH it holds or its equivalent of tokens.