Gumi invests $6.58M in Bitcoin for Web3 expansion

Tokyo-listed mobile game studio Gumi Inc. announced plans to purchase 1 billion yen, approximately $6.58 million, worth of Bitcoin (CRYPTO:BTC) between February and May.

The company aims to strengthen its node operation business and enhance its presence in the Web3 domain through this initiative.

According to the company's statement, the decision to purchase Bitcoin will aid in strengthening Gumi's financial standing as it pursues blockchain-related ventures.

Gumi became the first listed company in Japan to participate in Bitcoin staking protocol Babylon as a validator during the second quarter of the fiscal year ending April 2025.

The company expects to earn secondary revenue from staking its surplus Bitcoin funds into Babylon and from validator rewards, in addition to profits from potential Bitcoin price increases.

Gumi will conduct a fair market value assessment of its cryptocurrency holdings quarterly, recording any gains or losses in its income statement.

Founded in 2007 and listed on the Tokyo Stock Exchange in 2014, Gumi has developed mobile games such as "Final Fantasy: Brave Exvius" and "Brave Frontier."

The company also owns gumi Cryptos Capital (gCC), a venture capital firm investing in early-stage blockchain and crypto companies.

Gumi's stock price rose 3.65% on Monday, closing at 454 yen.

Japanese investment advisor Metaplanet Inc. has claimed to be the first publicly traded company in Japan to establish a Bitcoin treasury, holding 1,762 BTC and planning to expand its holdings to 10,000 BTC by the end of the year.

At the time of reporting, the Bitcoin (BTC) price was $98,389.01.