US EditionGameStop’s Revenue Boosted by $528M Bitcoin Stash, Reports Minimal Q2 Loss
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GameStop's crypto strategy is beginning to bear fruit. The iconic brand of video game, once in chronic difficulty, managed to limit its losses in the second quarter of 2024 thanks to a bold decision: to include the bitcoin in its balance sheet. A bet that illustrates how the border between traditional finance and digital assets is becoming increasingly clear. The GameStop article reduces its quarterly losses thanks to its Bitcoins has appeared f…
Bitcoin Just Saved GameStop From a Bigger Meltdown
The retailer purchased $500 million worth of Bitcoin in the second quarter, a position now worth $528.6 million. That $28.6 million unrealized gain helped offset weaker demand for hardware and software, which pushed net sales down to $674 million. Net loss came in at $18.5 million, a marked improvement from earlier quarters, with operating losses trimmed to $9.2 million thanks to aggressive cost controls. GameStop also saw a 63% jump in collecti…
GameStop’s Revenue Boosted by $528M Bitcoin Stash, Reports Minimal Q2 Loss
GameStop has reported an increase in revenue thanks to its $528 million Bitcoin holdings. This has helped in reducing its losses in Q2, despite ongoing revenue challenges. Bitcoin Investment Lifts GameStop’s Balance Sheet In its latest report, GameStop disclosed a boost in its revenue, minimizing previous losses. This comes after the purchase of $500 million The post GameStop’s Revenue Boosted by $528M Bitcoin Stash, Reports Minimal Q2 Loss ap…
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