GameStop Corp. has disclosed one of the largest Bitcoin allocations among publicly listed companies, reporting 4,710 BTC valued at $528.6 million on its balance sheet for the quarter ended Aug. 2, while delivering a quarterly loss but narrower operating deficits.
Bitcoin added to corporate treasury
According to its SEC filing, the Grapevine, Texas‑based retailer acquired the Bitcoin at a total cost of $500 million, measuring holdings at fair value using Coinbase spot pricing. The position generated an unrealized gain of $28.6 million by the end of the reporting period.
The move places GameStop alongside firms such as Strategy in adopting large crypto positions as treasury assets. With Bitcoin up roughly 18% since early May, the holdings benefitted from market appreciation.
Quarterly financial performance
GameStop reported a net loss of $18.5 million, compared with a profit of $44.8 million in the prior quarter. Revenue slipped to $673.9 million from $732.4 million, with declines in console hardware and game software sales softening top‑line performance.
Operating losses narrowed modestly to $9.2 million from $10.8 million, as selling, general, and administrative expenses declined. Collectibles, including trading cards and pop‑culture merchandise, contributed nearly one‑third of total sales and remained a relative bright spot.
Analyst data on quarterly beat
Separate analyst data published by TradingView provided a different perspective on the company’s fiscal Q2 calendar reporting. It cited revenue of $972.2 million, which was 21.8% higher year‑on‑year and beat Wall Street consensus by 18%. Adjusted EPS was reported at $0.25, ahead of analyst expectations of $0.16 per share.
TradingView also flagged EBITDA of $75.7 million, a margin of 7.8%, compared with negative results in the same period last year. Free cash flow reached $113.3 million, or 11.7% of revenue, indicating improved liquidity relative to previous quarters.
Balance sheet moves
GameStop ended the quarter with $6.1 billion in cash and equivalents, excluding digital assets. Earlier in the year the company strengthened liquidity with a $2.7 billion convertible bond sale and divested operations in Canada and France as part of a restructuring directed by chairman Ryan Cohen.
Market reaction
Shares of GameStop (NYSE: GME) gained 1.5% during regular U.S. trading and rose as much as 5.7% in after‑hours activity to $24.94 after the results and Bitcoin disclosure. Market capitalization now stands near $10.4 billion, according to TradingView.
Strategic context
GameStop’s adoption of Bitcoin highlights how crypto exposure is increasingly being integrated into corporate balance sheets, not only by technology firms but traditional retailers. At more than half a billion dollars in holdings, it is the second‑largest U.S. disclosure of BTC as a treasury asset after Strategy, and the largest outside the technology sector.
Oleksii Shumak
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