GameStop’s going big on Bitcoin, $500M big

GameStop just dropped its Q2 earnings. And lemme tell you, it ain’t your usual retail story.

See, these guys went all-in on Bitcoin , dropping a cool half-billion bucks on the crypto king during Q2 2025.

And guess what? It’s starting to pay dividends, or more literally, sweet unrealized profits.

Revenue, profit

Per the report, GameStop bagged 4,710 Bitcoin for about $500 million, and by the end of the quarter, those coins were valued at $528.6 million.

That’s a tidy unrealized gain of $28.6 million, enough to lighten the financial load during a quarter where their core retail business still faced some headwinds.

The $28.6 million profit helped trim losses, narrowing the net loss to $18.5 million, way better than the previous quarter’s numbers.

But what about the sales? Net revenue for Q2 hit $972.2 million, a respectable climb from the $798.3 million they pulled in last year.

Operating income? A sharp turnaround at $66.4 million, flipping from a $22 million loss the year before.

Costs were tightened too, with SG&A expenses slashed to $218.8 million from $270.8 million. And net income jumped to $168.6 million from a mere $14.8 million in 2024. GameStop is clearly not just sitting on its hands.

Turning the treasury into Bitcoin

But Wall Street’s whistling a different tune, GameStop’s Bitcoin strategy is straight-up stealing a page from Strategy’s playbook.

Boss move. Yeah, that’s the company that went full throttle into Bitcoin years ago, turning their treasury into a Bitcoin-hedged fortress.

GameStop walked the same path, mixing debt and equity plays to stack their BTC stash.

The market loved this, pushing GME shares up more than 7% in after-hours trading after the earnings came out.

Fortune favors the brave?

GameStop’s journey in Q2 2025 reads like a hero’s journey, starting subdued with retail struggles, only to rise dramatically thanks to the hardcore Bitcoin gamble.

This move shifted the game for the company, showing that even an old-school retailer can find new life in the crypto industry.

So, cue the suspenseful music, this crypto tale might just have a sequel worth watching.