GameSquare Holdings (GAME) stock jumped almost 60% percent on Tuesday after the company’s board signed off a $100 million Ethereum (ETH) treasury, putting the Nasdaq listed gaming and media firm at the front of corporate crypto adoption.
The Frisco-based group said it will buy Ethereum (ETH) in stages and work with Swiss investment house Dialectic to earn onchain yield, a move that mirrors SharpLink Gaming’s recent decision to hold ETH as a core treasury asset.
A press release on July 8 confirmed the approval and set out an underwritten sale of approximately 8.42 million shares at 95 cents to raise about $8 million for the first tranche. The board also gave management the green light to invest up to $100 million in ETH over time, and Lucid Capital Markets may place another 1.26 million shares within 45 days to widen the funding base.
Market data shows the stock closed at $1.54, up 59%, after peaking at $1.69 on turnover of 27M shares. After-hours trading added another 7%, suggesting investors welcome the pivot rather than fear dilution.
The firm stated Dialectic’s Medici platform will target yearly yields of 8-14% through automated, risk-managed DeFi strategies, well above the 3-4% earned from simple Ether staking. Dialectic employs multi-layer risk checks, smart-contract audits, and automatic rebalancing to guard capital while chasing the higher return. Chief executive Justin Kenna called the alliance a way to earn “real on-chain yield” while boosting flexibility and cash flow.
SharpLink Gaming and Bit Digital have made similar moves, and analysts say the rise of spot Ethereum ETFs is putting the token on corporate balance sheets.
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