NEW YORK, December 30, 2025, 10:25 ET
- Prenetics said it stopped daily bitcoin purchases on Dec. 4 and will not buy more, keeping 510 BTC as a reserve.
- The company said it will focus capital on IM8 and forecast fiscal 2026 revenue of $180 million to $200 million. GlobeNewswire
Prenetics Global Ltd said on Tuesday it has stopped buying bitcoin and will not make additional purchases, redirecting its capital allocation to its IM8 health supplement brand. The Nasdaq-listed health sciences company said it halted daily buying on Dec. 4 and will keep its 510 bitcoin as a treasury reserve asset. StreetInsider.com
The decision marks a pullback from a bitcoin treasury strategy — where a company holds the cryptocurrency as part of its cash reserves — that can quickly reshape balance sheets when prices swing. Bloomberg described Prenetics as the latest firm to halt such purchases amid depressed crypto prices. Bloomberg.com
Prenetics is betting those resources will produce steadier returns in IM8, which it said passed $100 million in annualized recurring revenue — a run-rate measure often used for subscription-style sales — within 11 months. It forecasts fiscal 2026 IM8 revenue of $180 million to $200 million. Investing News Network (INN)
Chief Executive Danny Yeung said the “phenomenal success of IM8 has exceeded all expectations.” Prenetics said it had more than $70 million in cash and cash equivalents, 510 bitcoin and no debt. markets.businessinsider.com
The company said it will not allocate any existing or new capital to buy more bitcoin and will instead channel spending into IM8’s growth, including product development and international expansion. Investing.com
Prenetics shares were up about 1% at $16.44 in morning trade. Bitcoin was up about 0.8% at around $88,224.
The pivot follows a short run in which Prenetics promoted a “dual-engine” approach pairing IM8 expansion with routine bitcoin accumulation. In an Oct. 31 release, Prenetics said it was buying one bitcoin per day and held 378 bitcoin after purchasing 100 at an average price of $109,594. Investing News Network (INN)
Days earlier, Prenetics completed a $44 million equity offering and said it would use proceeds to fund IM8 expansion and bitcoin accumulation. Investing.com reported the company held 275 bitcoin as of Oct. 27. Investing.com
Strategy, formerly known as MicroStrategy, has gone the other way, continuing to raise money and buy bitcoin, making it the most prominent example of the corporate-treasury trade. MarketWatch reported the software company has used share sales this month to fund additional purchases. MarketWatch
Semler Scientific, another U.S.-listed healthcare company, says on its website that it concluded investing in bitcoin was the best use of cash after studying alternatives. Semler Scientific, Inc.
Prenetics said it will keep its existing bitcoin holdings as a reserve asset while concentrating management attention on scaling IM8. The company said the strategy change aligns it more closely with shareholder priorities as it expands the brand. seekingalpha.com
