Tokyo-based game developer Gumi Inc. is making waves in the cryptocurrency world. The company, listed on the Tokyo Stock Exchange, has announced plans to purchase $6.6 million worth of Bitcoin. This bold move positions Gumi as a major player in blockchain staking and underscores its commitment to the web3 space.
In a press release dated February 10, Gumi revealed that its board of directors approved a plan to buy Bitcoin worth approximately JPY 1 billion by May. The acquisition aims to bolster the company’s blockchain node operation business, a growing area of focus for the gaming studio.
This news had a direct effect on Gumi’s share price, which increased by 3.6% to ¥454 (approximately $3), based on Google Finance data. Investors seem positive about the venture into the crypto market by the company, and Gumi itself is upbeat about its approach.
“Through this effort, we will further enhance our node operation business and deepen our footprint in the web3 space,” Gumi said in its press release.
The firm also announced to utilize its Bitcoin reserves for staking via Babylon, a blockchain staking protocolGumi Bets Big on Bitcoin, Bolstering Crypto Presence
In a daring bid to increase its presence in the growing crypto market, Japanese game developer Gumi has sanctioned a $6.6 million Bitcoin buy. The Tokyo-listed company’s board of directors has authorized this proposal, which is designed to enhance the company’s blockchain node operation business.
Gumi’s decision comes amid growing interest in cryptocurrencies, particularly in the Asian market. The company’s shares saw a 3.6% uptick following the announcement, reaching ¥454 (about $3) on the Tokyo Stock Exchange.
The game company intends to utilize its Bitcoin reserves for staking via the Babylon protocol in order to gain from both the potential appreciation of the price of Bitcoin and the staking and validator rewards revenue. Gumi will also periodically value its crypto reserves and report any gains or losses in its books.
“By this project, we hope to further develop our node operation business and solidify our presence in the web3 field,” the company explained in its announcement.
Gumi’s action is part of an overall trend among Asian businesses embracing cryptocurrencies. Remixpoint, a Japanese energy and automotive advisory firm, in December 2024 purchased additional Bitcoin for $1.38 million, adding to its crypto assets worth $27.59 million.
Likewise, Metaplanet’s announcement to implement a Bitcoin standard in April 2024 gave its stock a big push, driving it into the top 50 trading volume firms in Japan. The company now plans to own 21,000 BTC by 2026.
