SharpLink Gaming (SBET) Stock in December 2025: Ethereum Treasury Giant at a Discount After 2,600% Spike and 86% Crash
SharpLink Gaming (NASDAQ: SBET) surged over 2,600% in 2025 after shifting from sports betting tech to an Ethereum treasury model, but shares have since dropped 86% from their peak. As of midday December 11, SBET traded at $11.36 with a $2.23 billion market cap and extreme volatility. Q3 revenue hit $10.8 million, up 1,100% year-over-year, with profits driven mainly by unrealized ETH gains. ETH holdings reached 861,251 as of November 9.