GameStop Posts $131.6M Net Loss After Using 4,709 BTC as Collateral for Coinbase Credit

Odaily Planet Daily reported, citing analyst Emmett Gallic on X, that GameStop spent $500 million in May 2025 to buy 4,710 BTC. In January this year, the company pledged 4,709 BTC to Coinbase Credit as collateral for covered call options, removed that portion of Bitcoin from its balance sheet, and booked $368.3 million in accounts receivable. The accounting treatment contributed to a net loss of $131.6 million. Since the pledge, Bitcoin's price has fallen about 25%.