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GameStop renews Bitcoin options deal with Coinbase, earning modest income but minimal impact on profits.

Market News
12 Jun 2026
Benzinga
View Source
Neutral
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GameStop has extended its Bitcoin options arrangement with Coinbase after the initial contracts expired worthless. The company uses covered call contracts on nearly all its Bitcoin holdings, allowing Coinbase to buy Bitcoin at a set price if the market rises above that strike price. This strategy generated only about $1 million in earnings despite holding around 4,710 Bitcoin, contributing little to GameStop's record quarterly profit of roughly $390 million. GameStop prioritizes steady premium income over maximizing Bitcoin price gains and will continue this approach in the current quarter.

More News

Global automotive microcontrollers market to reach $34.31B by 2035, driven by ADAS, electrification, and software-defined vehicles.

Global automotive microcontrollers market to reach $34.31B by 2035, driven by ADAS, electrification, and software-defined vehicles.

The global automotive microcontrollers market is projected to grow from USD 15.49 billion in 2025 to USD 34.31 billion by 2035, at a CAGR of 8.28%. Growth is fueled by increasing adoption of advanced driver-assistance systems (ADAS), vehicle electrif...

Market News
Bullish
2 hours ago
Immuron reports FY26 sales growth with 10% rise in Australia and strong gains in Canada and the US.

Immuron reports FY26 sales growth with 10% rise in Australia and strong gains in Canada and the US.

Immuron Limited announced a 6% increase in global sales for FY26, reaching AUD$7.7 million, driven by a 10% rise in Australian sales and significant growth in Canada and the US markets. The growth in Australia is attributed to enhanced digital market...

Company Fundamentals
Bullish
4 hours ago
Ragnarok: The New World MMORPG launches in Southeast Asia on July 16, 2026.

Ragnarok: The New World MMORPG launches in Southeast Asia on July 16, 2026.

GRAVITY Co., Ltd. has officially launched Ragnarok: The New World, an open-world MMORPG based on the popular Ragnarok IP, in Southeast Asia on July 16, 2026. The game is available on both Mobile (Google Play and Apple App Store) and PC (official webs...

Others
Bullish
4 hours ago
Zymeworks to report Q2 2026 results on August 6, no earnings call due to Theravance Biopharma acquisition plans

Zymeworks to report Q2 2026 results on August 6, no earnings call due to Theravance Biopharma acquisition plans

Zymeworks Inc. will release its second quarter 2026 financial results after market close on August 6, 2026. The company will not hold an earnings call following the release due to its pending acquisition of Theravance Biopharma. This acquisition will...

Company Fundamentals
Neutral
4 hours ago
Global Net Lease to release Q2 2026 results on August 5, with a conference call on August 6.

Global Net Lease to release Q2 2026 results on August 5, with a conference call on August 6.

Global Net Lease, Inc. announced it will release its financial results for the second quarter ending June 30, 2026, on August 5 after the NYSE closes. The company will hold a conference call and webcast on August 6 at 11:00 a.m. ET to discuss the res...

Company Fundamentals
Neutral
4 hours ago
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