GameStop's move to add bitcoin as a treasury asset turns 1. It hasn't paid off yet.

Dow Jones03-25 23:45

MW GameStop's move to add bitcoin as a treasury asset turns 1. It hasn't paid off yet.

By Tomi Kilgore

Videogame retailer sees lowest yearly sales in 20 years, and books a more than $130 million loss on its bitcoin holdings

GameStop celebrates its first birthday as a company that can hold bitcoin as a treasury asset, by saying it booked a more than $130 million loss on its digital assets last year.

It's not such a happy anniversary for GameStop, as its decision to start buying bitcoin is costing the videogame retailer money.

One year ago Wednesday, the company announced an update to its investment policy to add bitcoin as a treasury reserve asset. Then on May 28, the company said it had purchased 4,710 bitcoin. And when it released quarterly results on June 10, the company said the purchases had begun on May 3.

GameStop $(GME)$ didn't disclose the price it paid per bitcoin, or the total amount it spent to make the purchases. The average closing price for bitcoin (BTCUSD) between May 3 and May 28 was roughly $104,000, according to FactSet data, which would imply a value of about $490 million for the company's holdings.

In the 2025 annual report released late Tuesday, the company said it booked a $131.6 million loss on its digital assets, compared with no loss in the previous year. That loss represented 3.6% of its total net sales for the fiscal year ended Jan. 31, 2026, of $3.63 billion.

That marked the lowest yearly sales since the $3.09 billion it booked for the fiscal year ending Jan. 28, 2006.

The stock slipped 0.3% in recent morning trading. Over the past 12 months, the stock has dropped 10.2%.

Meanwhile, bitcoin was up 0.5% in recent trading at just above $71,000, and has fallen about 19% over the past year.

The company also reported fiscal fourth-quarter sales that fell 14% to $1.1 billion, which is the lowest total for a holiday quarter in at least 20 years, according to available quarterly FactSet data back to March 2006.

The company reported earnings per share that rose to 49 cents from 30 cents, the seventh straight quarter it booked a bottom-line profit.

The company doesn't have any analyst coverage to gauge Wall Street expectations, according to FactSet, and the company did not hold a post-earnings conference call.

-Tomi Kilgore

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

March 25, 2026 11:45 ET (15:45 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

GameStop's move to add bitcoin as a treasury asset turns 1. It hasn't paid off yet.

At the request of the copyright holder, you need to log in to view this content

Comments