Prenetics halts Bitcoin acquisitions, shifts capital and strategic focus to IM8

PANews reported on December 30th that, according to Markets Insider, Prenetics (NASDAQ: PRE) announced it will cease daily Bitcoin purchases starting December 4th and will not make any further BTC acquisitions. It currently holds 510 BTC, over $70 million in cash equivalents, and has zero debt. The company will focus its capital on its consumer health brand IM8 for product development, brand building, talent acquisition, and international expansion. IM8 achieved over $100 million in annualized revenue within 11 months of its launch, and management projects FY2026 revenue to reach $180 million to $200 million. The board has approved using the existing BTC as financial reserves and will not make any new allocations.