GameStop Has Acquired 4,710 Bitcoin Between May 3 and June 10, 2025

This acquisition is part of the company's growing interest in cryptocurrency, and it was revealed alongside GameStop's first-quarter financial results for 2025.

GameStop (NYSE:GME) disclosed on Monday its first-quarter financial performance for 2025, highlighting an increase in earnings but a shortfall in revenue compared to expectations. The company also announced a substantial purchase of 4,710 Bitcoin (BTC) between May 3 and June 10, 2025.

The company's stock price decreased by more than 4% in extended trading following the announcement of its first-quarter earnings and the unveiling of its latest Bitcoin accumulation.

Despite reporting its fourth consecutive quarterly profit, a weaker-than-expected earnings report and a revenue miss contributed to investor concerns, leading to a decline in the stock price.

GameStop Financial Performance Falls Short of Expectations

The video game retailer reported a loss of $0.09 per share for the period, which began in January, on revenue of $732.4 million. Analysts polled by had anticipated EPS of $0.04 and revenue of $754.2 million.

However, this compares favorably to the prior year's first quarter, which saw a net loss of $0.68 per share on revenue of $568.8 million.

The company's operating margin also improved from -5.7% in Q1 2024 to -1.5% in Q1 2025, showcasing its ability to manage operating costs. Additionally, GameStop reported a positive free cash flow of $189.6 million compared to last year's figure of -$114.7 million.

"We continue to execute on our strategic initiatives and are pleased to report a fourth consecutive quarter of profitability, highlighting the progress we're making in navigating the dynamic gaming landscape," said Mike Best, Chief Financial Officer of GameStop.

GameStop Expands Bitcoin Holdings

The company's statement also revealed that it had acquired 4,710 Bitcoin at an average price of $109,010. According to calculations by , these digital assets are currently valued at approximately $516.6 million.

This move continues GameStop's plan to hold digital assets as part of its treasury strategy, which was previously announced in December 2024. The retailer stated its intention to follow in the footsteps of companies like Strategy (NASDAQ:), which has made significant investments in Bitcoin.

GameStop's decision to purchase and hold Bitcoin aligns with its broader strategy of using excess cash to invest in risk assets, including both cryptocurrencies and stocks. The company's board had approved an update to its investment policy earlier this year, officially recognizing Bitcoin as a treasury reserve asset.

At the same time, Bitwise Asset Management issued the first ever GameStop-focused ETF, the Bitwise GME Option Income Strategy ETF (NYSE:IGME). To capitalize on GameStop's recent Bitcoin acquisition strategy, this ETF focuses on a combination of stock's volatility and its possibility for growth resulting from being invested in digital assets. The new ETF is designed to provide income to investors from GameStop's volatility via covered call strategies as well as upside exposure to the company's holdings of Bitcoin.

According to Jeff Park, Head of Alpha Strategies at Bitwise: ‘IGME is intended to reflect the retail investor interest in viewing GameStop as a crypto play, and the company's new venture into this space.’ Park noted that this interest is evident in the strong performance of other crypto ETFs, which has led to the creation of the Bitwise GME Option Income Strategy ETF.

"We believe that there's an opportunity for a product that capitalizes on the company's crypto holdings and provides downside protection to investors," said Mark Billings, CEO of Bitwise Asset Management.

Stock Reaction to Earnings Report

Following the announcement of its first-quarter earnings, GameStop's stock price dropped by more than 4% in extended trading on Monday.

Despite reporting its fourth consecutive quarterly profit, the company's revenue miss weighed on investor sentiment. Although the company's stock price has risen by 33% over the past three months, the fact the earnings report came in weaker than expected add to worries about the company's future growth.

In recent years, GameStop has suffered with declining sales, as a result of the competition from digital gaming and streaming services. However, the new moves into Bitcoin indicate that the company is taking chances to fuel growth.