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GameSquare Holdings Inc. (NASDAQ:GAME) announced its board of directors has increased the company’s digital asset treasury management authorization from $100 million to $250 million, according to a press release statement.
The media and entertainment company recently purchased $30 million of Ethereum, acquiring approximately 8,351.89 ETH at a weighted average price of $3,592 per ETH. GameSquare currently holds approximately 10,170.74 ETH as of July 21, 2025, representing about $38 million in total Ethereum holdings.
The board approved a new NFT yield strategy with an initial $10 million allocation. The company stated this strategy targets annual returns of 6-10% through what it describes as Ethereum-based assets and stablecoin yields.
"We believe this moment marks the future of capital strategy for modern media companies, after months of planning and diligence," said Justin Kenna, CEO of GameSquare. "We’re not just holding Ethereum, we’re putting it to work in a proprietary way with best-in-class partners."
GameSquare has formed partnerships with Ryan Zurrer of Dialectic and Rhydon Lee of Goff Capital to manage its treasury program. The company’s strategy utilizes Dialectic’s platform Medici, which the company claims targets onchain yields of 8-14% compared to current ETH staking benchmarks of 3-4%.
The NFT strategy will focus on Ethereum-native digital assets including digital art and collectibles. GameSquare has implemented a dedicated digital asset investment committee reporting to the board for oversight of allocations and compliance.
To date, GameSquare has purchased $35 million of ETH under its expanded $250 million authorization. The company operates gaming media networks and owns FaZe Clan, a gaming organization.