GameStop's $1.48 Billion from Convertible Notes to Fund Bitcoin Investment, Approved by Board

GameStop Corp. has completed a $1.5 billion convertible note offering, securing $1.48 billion in net proceeds. The company, led by CEO Ryan Cohen, plans to use these funds to purchase Bitcoin, following full board approval to add the cryptocurrency to its corporate balance sheet.

The offering, which included a fully exercised $200 million greenshoe option, was finalized on April 1, 2025. GameStop's stock, symbol $GME, rose 1.35% during the regular session on Monday and an additional 0.8% in after-hours trading. At the time, Bitcoin was trading at approximately $84,900.

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