GameStop has raised an additional $450 million to grow its Bitcoin reserves, according to recent SEC filings. The funds come from the exercise of a greenshoe option tied to the company’s $2.25 billion convertible debt offering completed in mid-June 2025.
This move brings the total amount raised through the offering to $2.7 billion. GameStop plans to use the money for general corporate purposes, including further investment in Bitcoin.
The $450 million came from the underwriters purchasing extra zero-coupon convertible senior notes, which can be converted into GameStop Class A common shares by 2032. These shares convert at a price of $28.91, a 32.5% premium compared to the stock’s average price around June 12, when the initial offering happened.
GameStop started its Bitcoin treasury strategy earlier in May 2025 when it purchased 4,710 Bitcoins for about $513 million. Despite Bitcoin’s price swings, the company continues to add to its reserves as BTC currently trades around $107,000. The company’s recent fundraising efforts show its commitment to using cryptocurrencies as part of its corporate financial plan.
The retailer’s strategy follows that of other publicly traded companies that raise capital to invest in Bitcoin, including notable examples like Michael Saylor’s MicroStrategy.
Furthermore, GameStop’s official statements explain that the funds raised will support corporate needs and investments aligned with its investment policies, including digital assets.
“The additional funds will support GameStop’s goal of expanding its Bitcoin treasury reserve,” the company said in its filing.
The convertible notes sold by GameStop allow the company to raise capital now while offering investors potential equity upside later. The notes do not pay interest but can convert into shares under set conditions, providing a flexible financing tool.
GameStop’s plan to raise more capital to buy more Bitcoin is in line with the current trend of companies adding crypto assets to their balance sheets.
Also Read: ProCap Buys 1,208 BTC to Speed Up $1B BTC Treasury Plan
