GameStop Reports Bitcoin Holdings and Financial Performance in Second Quarter

According to PANews, GameStop has disclosed its financial results for the second quarter, revealing its possession of 4,710 Bitcoin, valued at $529 million, with unrealized gains amounting to $28.6 million. The company reported a net loss of $18.5 million, which marks an improvement from the previous quarter. Revenue decreased to $674 million, attributed to declines in hardware and software sales, while the proportion of sales from collectibles increased. GameStop raised $270 million through convertible debt financing and sold its operations in Canada and France. By the end of the quarter, the company held $6.1 billion in cash and equivalents, excluding digital assets.