The Nasdaq-listed media and technology company, Gamesquare Holdings Inc. (Nasdaq: GAME), recently purchased $30 million worth of ethereum ( ETH), acquiring approximately 8,351.89 ETH at a weighted average price of $3,592. The release shared with Bitcoin.com News notes that this brings its total ETH holdings to approximately 10,170.74 ETH, valued at roughly $38 million as of July 21.

The purchase is part of the company’s execution under the expanded $250 million authorization. As part of the updated strategy, Gamesquare’s board approved a new non-fungible token (NFT) yield program with an initial $10 million allocation. This initiative aims to generate sustainable stablecoin yields, targeting an annualized return between 6% and 10%. The strategy focuses on Ethereum-native digital assets, aligning with the company’s creative focus, utilizing decentralized finance (DeFi) protocols for yield generation and capital efficiency.

Chief Executive Officer Justin Kenna stated the move reflects a long-term growth strategy focused on innovation and shareholder value, not merely accumulating ETH. He emphasized building a “dynamic treasury engine” designed to generate real onchain yield to fund operations. A dedicated investment committee oversees the program, ensuring compliance, security, and valuation integrity.

Gamesquare formed a strategic partnership with crypto firms Dialectic and Goff Capital to manage the program. Its core ETH yield strategy leverages Dialectic’s Medici platform, employing machine learning and risk controls targeting onchain returns of 8% to 14%, significantly above current staking benchmarks. Capital generated is expected to fund further ETH purchases or company growth initiatives.

Gamesquare operates a large gaming media network and owns Faze Clan. The expanded crypto treasury program reinforces its commitment to operating at the intersection of media, technology, and financial innovation. The company’s dedication to ETH unfolds as a wave of other businesses race to adopt similar altcoin treasury strategies.

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