Sharplink Stock Faces A Valuation Test Over Its Ethereum Treasury

October 16, 2026

Sharplink has attracted attention as its share price slide over recent years meets a business trading on a high P/S ratio versus sector peers, while earnings remain volatile and tied to a growing Ethereum treasury and smart contract related activity.
The company’s decision to keep building an Ethereum treasury adds a second layer of risk on top of already choppy earnings, since investors must weigh both core operating performance and on chain exposure when assessing what the current…