Popular retailer plans risky Bitcoin strategy as it closes hundreds of stores

A video retail store renowned for its midnight release parties, exclusive products and love of gamer culture is expected to shutter a “significant number” of stores in 2025.

According to a March company earnings report on the United States Securities and Exchange Commission, GameStop Corp. said it anticipates the closing of a “significant number” of stores in the 2025 fiscal year.

After years of financial turmoil the video game retailer closed 590 in the United States in 2024, according to the earnings report. In 2023 and 2024 GameStop stopped operating in several countries including Ireland, Switzerland, Austria and Germany,

There are currently 2,325 GameStops in the U.S., as of Feb. 1, 2025.

Gamestop executives stated the company plans to invest its assets in Bitcoin during the series of store closures. In the earnings report, Gamestop executives acknowledged the risk of investing in the volatile coin.

“Our Bitcoin strategy has not been tested and may prove unsuccessful,” the report read.

Executives did not state how much Bitcoin they plan to purchase.

The last time GameStop made major headlines was in 2021 when the video game retailer featured among several popular meme stocks with shares surging upwards of over 1,000%.

GameStop’s stocks spiked once again in 2024 due in part to a Brockton native, Keith Gill, better known as “Roaring Kitty” and his online conquest to pump the video game retailer’s stock once again.

©2025 Advance Local Media LLC. Visit masslive.com. Distributed by Tribune Content Agency, LLC.