GameStop narrows Q2 losses, discloses holdings of 4,710 Bitcoins

GameStop reported a net loss of $18.5 million in the second quarter, a significant narrowing from the previous quarter's profit of $44.8 million. Revenue fell to $673.9 million, dragged down by declining hardware and software sales, but growth in collectibles sales. The company purchased 4,710 bitcoins during the quarter at a cost of $500 million, valued at $528.6 million at the end of the period, resulting in an unrealized gain of $28.6 million, making it one of the few publicly traded companies to have exposure to digital assets. (Decrypt)