GameStop Reports Bitcoin Holdings and Financial Performance for Q2

GameStop has released its second-quarter financial results, revealing its holdings of 4,710 Bitcoin worth $529 million with unrealized gains of $28.6 million. The company posted a net loss of $18.5 million, marking an improvement from the previous quarter. Revenue decreased to $674 million, attributed to declines in hardware and software sales, while collectibles saw a surge in sales. To boost its financial standing, GameStop secured $270 million through convertible debt financing and sold operations in Canada and France. The company ended the quarter with $6.1 billion in cash and equivalents, excluding digital assets.