Gamestop (GME) shares fell 11.7% in the hour trading after offering a private convertible senior note of $ 1.75 billion-expanding his debt financing strategy that can fund additional bitcoins.

GMESTOP had already slipped from 5.34% to $ 28.55 during normal business hours on Wednesday after Gamestop reported the quarter. 17% revenue fall A day earlier in the hour.

Gamestop recently bought $ 513m in bitcoin

US video game And consumer electronics retailer did not clearly do State Income will be used to fund additional bitcoin purchases, but said that it intends to invest in addition to the investment policy of the gamestop in addition to the possible acquisition.

The most recent $ 1.5 billion of gamestop was used through convertible notes Buy 4,710 bitcoins (BTC) – Price of $ 513 million at that time – on 28 May.

Convertible senior notes have been a rapid general financial instrument for public companies that are demanding to increase themselves Bitcoin Treasury.

4,710 Bitcoin Stash of Gamestop currently holds it as the 13th largest corporate bitcoin holder, According For bitcointreasuries.net data.

$ 1.75 billion has a 0% interest rate with a private offering, Convertible senior note Payable on 15 June 2032.

The offer contains an option to buy additional $ 250 million in notes for initial buyers.

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Based on the decision of the notes gamestop, either cash, GME stock, or a mixture of both are convertible.

Gamestop first fell on Q1 results

Gamestop is reported as the latest offering $ 44.8 million profit In the first quarter, Q1 reversed a loss of $ 32.3 million from 2024.

However, the revenue fell by 17% to $ 732.4 million, did not remember the expectations of the industry and triggered a significant decline after hours on 10 June.

GME shares are down after purchasing the first bitcoin

According For Google Finance, GME shares have fallen 18.5% as Gamestop confirmed its first bitcoin purchase on 28 May.

When 11.7% decline in hours after factoring, the gamestop has now eradicated all the benefits made since March 25, when it Plans declared earlier To invest in bitcoin.

The stock movement of GME contradicts with most public companies, who have seen an increase in their share prices following a plan to announce or do so.

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