GameStop (GME) Earnings News: BTC Holdings Narrow Q3 Profit

GameStop's Bitcoin holdings resulted in a $9.2 million loss during the third quarter, which ended November 1, as the price of Bitcoin fell from approximately $115,000 to about $110,000 during that period. At the end of Q3, the company's digital asset stack, likely consisting of the 4,710 BTC purchased between May and mid-June using proceeds from a March debt offering, was valued at $519.4 million. GameStop adopted Bitcoin as part of its treasury strategy in March, but has not bought or sold any BTC since the initial acquisition. The company's stock fell 5.8% on Wednesday following sales results that missed investor expectations, as investors weigh the risks of holding crypto against weak core business performance.

(Source：CoinDesk)