CoinDesk Podcast Network eBay Rejects GameStop's $56B Bid | CoinDesk Daily
May 12, 2026
News of a rejected $56 billion takeover bid sparks debate over deal credibility. Discussion touches on whether a $368 million bitcoin holding could be sold to bolster an offer. Quick market and crypto headlines set the scene and raise questions about strategy and corporate reactions.
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eBay Rejects GameStop Offer Over Financing Credibility
- eBay's board called GameStop's $56 billion takeover offer "neither credible nor attractive."
- The bid relied on $20 billion of TD Bank financing that required an investment-grade rating, which Moody's said the deal would likely undermine.
Mara Cuts Bitcoin Position And Pauses Mining Expansion
- Mara Holdings sold $1.5 billion of Bitcoin last quarter and fell to the fourth largest public BTC holder.
- The company also said it won't pursue large-scale ASIC purchases, signaling mining expansion is deprioritized.
Miners Redirect Capacity Toward AI Compute
- Up to 90% of Mara's non-hosted capacity could be redirected to AI and high-performance computing.
- That shift shows miners exploring alternative revenue from compute as mining expansion stalls.