GameSquare Expands Crypto Treasury Program to $250 Million

Increases Ethereum treasury holdings to approximately $38 million, with recent $30 million purchase

Launches NFT yield program creating one of the first treasury management strategies to leverage digital assets within the Ethereum ecosystem targeting an expected annualized return of 6%-10%

FRISCO, Texas, July 21, 2025 /PRNewswire/ -- — GameSquare Holdings, Inc. (Nasdaq: GAME) (the "Company" or "GameSquare") a next-generation media, entertainment, and technology company, today announced that its Board of Directors has increased the Company's digital asset treasury management authorization from $100 million to $250 million. 

As part of the expanded program, the Board has approved a new NFT yield strategy, with an initial $10 million allocation. The updated treasury framework enables the Company to actively deploy capital into high-quality Ethereum-based assets and generate sustainable stablecoin yields targeting a 6–10% return.

"We believe this moment marks the future of capital strategy for modern media companies, after months of planning and diligence.  We're not just holding Ethereum, we're putting it to work in a proprietary way with best-in-class partners. With Dialectic as our partner, we're building a dynamic treasury engine designed to generate real onchain yield that funds innovation across our exclusive platform. This isn't a hedge, it's a multi-year growth strategy focused on creating significant shareholder value," said Justin Kenna, CEO of GameSquare.

ETH Holdings Update
GameSquare recently purchased $30 million of ETH, acquiring approximately 8,351.89 ETH at a weighted average price of approximately $3,592 per ETH.  To date, GameSquare has purchased $35 million of ETH under its $250 million authorization.  The Company currently has approximately 10,170.74 ETH as of July 21, 2025. 

NFT Strategy Launch
GameSquare's NFT strategy will focus on Ethereum-native digital assets that align with its creative DNA, including culturally iconic digital art and collectibles. Rather than passively holding crypto assets, the Company is emphasizing capital efficiency and utilizing DeFi protocols to unlock stablecoin yield while enhancing the long-term value of its ETH holdings.

To ensure strong oversight, GameSquare has implemented a dedicated digital asset investment committee reporting to the Board. All allocations are reviewed for compliance, security, and valuation integrity. The Company does not engage in related-party transactions and has strict internal controls in place for digital asset custody and liquidity management.

"We are excited to be among the first public companies to include NFTs as part of a diversified digital asset strategy.  This reflects the innovative approach to our treasury management initiatives.  With deep experience building in-game and real-world creative environments, GameSquare is uniquely positioned to understand the cultural and economic value of these digital assets," Kenna continued.   

Increased Authorization
The Company's Board of Directors has increased its crypto treasury management authorization from $100 million to $250 million, as a result of the program's mounting success.  The Company has formed a strategic partnership with leaders in the crypto space including Ryan Zurrer of Dialectic and Rhydon Lee of Goff Capital to manage and optimize its treasury management program.   

"Our crypto strategy complements GameSquare's broader strategic growth plan and aligns with the growing institutional adoption of Ethereum-based assets.  GameSquare isn't just trying to get involved in an arms race of who can acquire the most ETH for the sake of acquiring ETH.  Our growth strategy is focused on innovation and leveraging our established digital, media and creative operations. In addition, our treasury program strengthens our balance sheet while building the potential for recurring cash flow from a rapidly evolving asset class.  We are excited to report on our growing success," Kenna concluded. 

GameSquare's custom ETH-focused yield generation strategy is built on top of Dialectic's proprietary platform Medici, which applies machine learning models, automated optimization, and multi-layered risk controls to generate best-in-class risk-adjusted returns. Targeted onchain yields of 8-14% significantly exceed the current ETH staking benchmarks of 3-4%.  Dialectic's program includes multi-layered risk management protocols that are widely recognized as the best risk adjusted yields in DeFi.

Once fully implemented, GameSquare expects to allocate capital generated from this strategy to support additional ETH asset purchases or reinvest in the Company's growth initiatives.

About GameSquare Holdings, Inc.
GameSquare (NASDAQ: GAME) is a cutting-edge media, entertainment, and technology company transforming how brands and publishers connect with Gen Z, Gen Alpha, and Millennial audiences. With a platform that spans award-winning creative services, advanced analytics, and FaZe Clan, one of the most iconic gaming organizations, we operate one of the largest gaming media networks in North America. Complementing our operating strategy, GameSquare operates a blockchain-native Ethereum treasury management program designed to generate onchain yield and enhance capital efficiency, reinforcing our commitment to building a dynamic, high-performing media company at the intersection of culture, technology, and next-generation financial innovation. 

To learn more, visit www.gamesquare.com.

Forward-Looking Statements:
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SOURCE GameSquare