GameStop Corp. shares were tumbling Thursday after the company announced that it plans to raise more debt — a move that could indicate another bitcoin purchase is looming for the videogame retailer and original meme stock.

GameStop shares got destroyed Thursday after the company said it wants to raise $1.75 billion through a convertible note sale, triggering a massive selloff.

GameStop stock plummeted after the video game seller announced that it intends to sell $1.75 billion worth of convertible bonds.

The video game retailer announced plans for a $1.75 billion convertible notes offering to partially fund its bitcoin purchase.

GameStop is raising money by selling special financial instruments called Convertible Senior Notes. They plan to sell $2.25 billion worth of these notes and might sell an additional $450 million if the buyers want more.

GameStop shares are dropping 20% Thursday morning, a day after the video-game retailer announced a new fundraising effort.