GameStop’s Bitcoin Venture Boosts Revenue Despite Slowing Sales

GameStop narrowed its second-quarter loss to $18.5 million as a significant investment in Bitcoin lifted revenues and helped offset declining sales of gaming hardware and software. The company reported that its $528 million Bitcoin holdings contributed significantly to revenue growth, leading to a narrowing of losses. This move into crypto is proving successful for the retailer, which has been central to retail trading frenzy, as it seeks to diversify its portfolio amidst market challenges.