GameStop Announces Another Round of Store Closures

In a wave of strategic changes, GameStop, the well-known video game retailer, is planning to shutter more stores across the United States. This move follows a series of closures that started back in January, and the company is gearing up for what it describes as a “significant” number of further closures in the coming months.

### GameStop to Prioritize Bitcoin Over Traditional Storefronts

A recent company filing sheds light on GameStop’s decision to close additional stores, though it doesn’t specify which locations will be affected. The company has embarked on a “comprehensive store portfolio optimization review” aimed at evaluating current market conditions and the performance of individual stores. This review has already led to the closure of 590 U.S. stores in fiscal 2024, and it’s expected to result in more closures by fiscal 2025.

“As part of our ongoing review, we are examining various factors to identify which stores should be closed down,” GameStop explained in the filing. “While a specific list of closures has yet to be finalized, we anticipate closing a significant number of stores next fiscal year.”

In parallel with reducing its retail footprint, GameStop has announced plans to invest in cryptocurrencies like Bitcoin. This initiative is part of a larger strategy to use Bitcoin as a treasury reserve asset.

“On March 25, 2025, we updated our Investment Policy to include Bitcoin as a new treasury reserve asset, which allows us to potentially allocate a portion of our cash or proceeds from future financial activities into Bitcoin,” according to the company. “No cap has been set on the amount of Bitcoin we may hold, and we retain the flexibility to sell it as needed.”

Neil Saunders, an analyst at GlobalData Retail, commented on this strategy for CNN. “The shift towards Bitcoin seems to be a measure to stay relevant,” he remarked. “It’s an unusual step because it suggests that GameStop is moving away from its retail roots to become a kind of cryptocurrency investment platform.”

(Source: CNN)