Here are the 10-K annual reports from Sharplink, Inc. (SBET) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow SBET and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SBET filings page.
Sharplink, Inc. has transformed its business into a digital asset treasury company centered on Ether (ETH) while continuing a smaller affiliate marketing operation for sportsbooks and online casinos. In June 2025 it adopted ETH as its primary treasury asset and repositioned around ETH treasury management and affiliate marketing as its two reportable segments.
Since launching this strategy, the company reports raising $3.2 billion in new capital and accumulating about 868,699 ETH (including native ETH and staked equivalents) as of early March 2026, making ETH price movements a major driver of its balance sheet and stock value. Sharplink earns ETH-denominated rewards through native and liquid staking and has begun deploying part of its holdings to Ethereum Layer 2 infrastructure such as Linea to seek additional yield.
The filing highlights extensive regulatory, valuation, custody, cybersecurity and concentration risks tied to digital assets, including the possibility ETH or staked ETH could be classified as securities or commodities subject to new rules. The traditional affiliate marketing segment remains competitive and regulated, but management now treats it mainly as a cash-flow business while strategic focus and growth plans center on expanding and actively managing the ETH treasury.