GameStop Reports Narrower Q2 Loss, Crypto Investments Boost Balance Sheet

GameStop’s second-quarter loss narrowed to $18.5 million, a significant improvement from previous periods, thanks in part to strong Bitcoin holdings. Revenue decreased to $673.9 million, impacted by declining hardware and software sales but boosted by the growth of its collectibles business. The company’s strategic investment of 4,710 Bitcoin, valued at $528.6 million as of quarter-end, generated $28.6 million in unrealized gains, strengthening GameStop’s financial position amidst restructuring efforts.