Key Takeaways
GameStop’s Q2 results beat expectations, boosted by its $528.6 million Bitcoin holdings as they generated $28.6 million in unrealized gains. The company also posted stronger sales, improved cost controls, and a net income surge.
GameStop’s bet on Bitcoin [BTC] might just be be paying off. 🎮💸
The firm is in the news today after it disclosed that its $500 million Bitcoin acquisition in Q2 had appreciated to $528.6 million – Yielding unrealized profits of $28.6 million. 🤯
This surge helped trim losses for the quarter, despite the retailer continuing to face revenue headwinds. (Because nothing says “I’m thriving” like barely breaking even.)
Findings of GameStop’s Q2 report
They’re cutting costs like it’s 2008, but with more emojis.)
Net income too surged to $168.6 million, up from $14.8 million during 2024’s second quarter. (Because who needs a business plan when you can just buy Bitcoin?)
When excluding impairment, unrealized gains on digital assets, and other one-off items, adjusted net income stood at $138.3 million – A sharp jump from $5.2 million in Q2 last year. (Because “unrealized” is just a fancy way of saying “we haven’t sold yet.”)
GameStop’s balance sheet also showed remarkable growth, with cash, cash equivalents, and marketable securities rising to $8.7 billion. This was more than double the $4.2 billion it held a year earlier. (Because nothing says “financial stability” like having more cash than a crypto bro at a Bitcoin conference.)
Did GME’s Bitcoin bet pay off?
As expected, GameStop’s earnings release was well received on Wall Street, with GME’s stock climbing by 1.59% during regular trading and surging by as much as 8.90% in after-hours to $25.69, according to Google Finance. (Because nothing says “confidence” like a 8.9% after-hours spike.)
For its part, Bitcoin itself was trading at $113,341.65 at press time – Up 0.42% in the last 24 hours. (Because Bitcoin’s volatility is just a “feature,” not a bug.)
GameStop’s approach to building its BTC position bears striking similarities to MicroStrategy’s playbook, leveraging both debt and equity issuance to expand its holdings. (Because nothing says “corporate strategy” like taking out a loan and selling stock to buy more Bitcoin.)
Whether this strategy will deliver long-term stability remains to be seen. However, it firmly places GameStop among the growing number of public companies treating Bitcoin as a cornerstone of corporate strategy. (Because if you can’t beat them, buy their crypto.)
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2025-09-11 09:16