Gamestop moved 100 BTC to Coinbase Prime on January 17, 2026, a transfer valued at roughly $9.5 million. The onchain analyst Sani flagged the transaction and shared the movement publicly, identifying the routing to Coinbase’s institutional trading venue. This notice follows the company’s prior disclosure about its bitcoin treasury and drew attention because it involved Coinbase’s institutional services.
Gamestop Transfers 100 BTC to Coinbase Prime
The onchain record shows a 100 BTC movement on Jan. 17, 2026 that was highlighted by analyst Sani. According to the available reports, the 100 BTC was routed to Coinbase Prime, the platform Coinbase uses for institutional trading. The transaction was reported alongside existing custodial links to Coinbase, where the firm also uses cold storage services.
Gamestop’s Bitcoin Holdings
Gamestop disclosed that it held 4,710 BTC on its balance sheet as of May 28, 2025, which placed the company 22nd among publicly listed firms with bitcoin treasuries. After this 100 BTC transfer, the company still holds more than 4,600 BTC, so its relative ranking among public treasuries remains unchanged. For context on other Coinbase-related movements, see the Coinbase Institutional transfer coverage.
Possible Reasons for the Transfer
The public information does not confirm a sale; it only shows that 100 BTC was moved to Coinbase Prime. Such transfers are commonly linked to treasury management, custody adjustments, or preparation for institutional trading, though no definitive reason has been announced. Because the reported move was between onchain addresses tied to Coinbase services, it reflects a shift within Coinbase’s ecosystem rather than an immediate onchain sale outside the platform.
Coinbase’s Role in the Transaction
Coinbase Custody is noted as the arm used for offline, cold storage of digital assets, while Coinbase Prime is the company’s institutional trading venue. In this instance, the 100 BTC was routed to Coinbase Prime, illustrating how firms move assets between custody and trading services. For examples of institutional activity on Coinbase Prime, see the related Coinbase Prime activity report.
Why this matters
For miners in Russia running from a single device up to a small farm, this move is mainly a signal that a publicly traded company adjusted how it holds or positions part of its bitcoin treasury. The transfer itself does not change Bitcoin’s protocol or network conditions, and there is no public confirmation that Gamestop sold the coins. At the same time, movements between custody and trading services can precede trading actions, so they are worth noting without assuming immediate market impact.
What to do?
If you operate one to a thousand devices, treat this news as informational rather than actionable financial advice. Keep monitoring onchain labels and official company disclosures for confirmation if a sale or other material action occurs, and avoid making operational changes to your mining setup based only on custody transfers. Maintain usual practices: secure backups, track exchange custody addresses if you use them, and follow official reports from the company for any required disclosures.
