Analysis: GameStop Bitcoin staking operations recorded a net loss of $131.6 million.

PANews reported on March 25th that, according to Emmett Gallic's analysis, GameStop recorded a net loss of $131.6 million from its Bitcoin staking operations. In May 2025, GameStop purchased 4,710 Bitcoins for $500 million. In January of this year, the company pledged 4,709 of these Bitcoins to Coinbase Credit as collateral for covered call operations. This resulted in the Bitcoin assets being suspended from the balance sheet, and $368.3 million in receivables were recognized, leading to a net loss of $131.6 million. Since GameStop provided the collateral, the price of Bitcoin has fallen by approximately 25%.

According to previous reports, GameStop's financial report disclosed that its Bitcoin and related receivables were valued at $368 million as of the end of Q4 last year .