GameStop Corp. (NYSE:GME) shares surged Wednesday in premarket trading after the company announced the purchase of 4,710 Bitcoins (CRYPTO: BTC/USD), marking a significant step in its pivot toward digital assets.
This acquisition follows GameStop’s earlier decision to adopt Bitcoin as a treasury reserve asset, a move confirmed during its fourth-quarter earnings release.
As of May 27, 2025, the leading cryptocurrency briefly surged above $110,000 before retreating to the $108,000 range overnight. GameStop did not disclose the average purchase price of its 4,710 Bitcoins.
Also Read: Strategy (MSTR) Stock Rises On $2.1B Preferred Stock Offering, Bitcoin All-Time High
In its fourth-quarter results, GameStop reported revenue of $1.28 billion, down 28% year-over-year and below analyst expectations. Adjusted earnings per share came in at 30 cents, beating the consensus estimate of eight cents.
In a separate announcement, the board reaffirmed its commitment to Bitcoin, approving its formal inclusion as a treasury reserve asset.
GameStop’s renewed embrace of digital assets comes as it looks to reshape its financial strategy amid declining core revenue.
The company’s adoption of Bitcoin reflects a broader corporate trend, with firms like MicroStrategy (NASDAQ:MSTR), Tesla (NASDAQ:TSLA), Block Inc. (NYSE:XYZ), and Semler Scientific (NASDAQ:SMLR) also integrating digital assets into their treasuries as a diversification tool and a hedge against traditional market volatility.
Related: Strategy, Metaplanet Continue Bitcoin Treasury Push But The Pace Is Slowing
Price Action: At the last check on Wednesday, GME shares were trading higher by 2.20% at $35.78 premarket.
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