GameStop quarterly loss drops as $500 million Bitcoin purchase

GameStop's quarterly loss narrowed to $18.5 million, thanks to unrealized gains from its $500 million Bitcoin investment (currently worth $528.6 million). GameStop revenue fell to $673.9 million due to decline in hardware and software sales, but the collections business remains strong. The company held $6.1 billion in cash (excluding digital assets), and its share price rose 1.5% and rose 5.7% after the market.