GameSquare Holdings, Inc., led by CEO Justin Kenna, has acquired $30 million worth of Ethereum (8,351 ETH at ~$3,592/ETH) to bolster its treasury strategy. The Toronto-based company's purchase, funded via a public offering, marks a strategic pivot toward decentralized finance and institutional crypto adoption.
Partnering with Dialectic's Medici platform, GameSquare targets 8-14% annual yield through DeFi protocols—significantly exceeding standard staking returns. CEO Kenna stated: "This deepens our expertise in decentralized finance, pursues new revenue streams, and strengthens our balance sheet." The treasury initiative, initially set at $100 million, now aims for $250 million in crypto assets to fund ETH acquisitions, share buybacks, and growth investments.
Following the announcement, GameSquare's stock (GAME) surged over 58%, reflecting market optimism. The move aligns with broader trends of institutional Ethereum adoption, similar to firms like SharpLink Gaming, and may enhance liquidity for DeFi protocols if deployed for yield generation.