GameStop (GME) ended the third quarter with $519.4 million in bitcoin, posting a $9.2 million loss as the cryptocurrency slipped from roughly $115,000 to $110,000.
The company is believed to still hold 4,710 BTC—the same amount it acquired between early May and mid-June using proceeds from a $1.3 billion debt offering announced in March. Since the initial purchase, GameStop has neither added to nor sold any bitcoin, maintaining its position through market swings.
Shares fell 5.8% on Wednesday after the company reported sales below investor expectations. The adoption of bitcoin as part of its treasury strategy marked a major shift for the video game retailer, which continues to face challenges regaining momentum after its pandemic-era meme stock surge.
Since launching its bitcoin initiative, GameStop’s stock has declined more than 22%, highlighting investor caution over holding cryptocurrency alongside a core business that remains under pressure.
