Prenetics ends Bitcoin purchases to focus on its consumer health brand
Prenetics has halted Bitcoin acquisitions to fully concentrate resources on scaling its rapidly growing consumer health brand, IM8.Summary
Nasdaq-listed healthcare firm Prenetics has stopped purchasing Bitcoin to exclusively focus on its consumer health brand, IM8, a decision approved by the Board of Directors to maximize shareholder value. The company will retain its existing holding of 510 Bitcoin, valued at over $45 million. IM8, co-founded by David Beckham, produces nutritional powders and has achieved rapid success, hitting $100 million in annualized recurring revenue within 11 months, with forecasts reaching $180–$200 million by fiscal year 2026. CEO Danny Yeung stated that IM8's superior performance prompted the unanimous leadership decision to focus capital on product innovation, brand building, talent acquisition, and international expansion for IM8. This strategic shift occurs as broader cryptocurrency sentiment has softened, with Bitcoin struggling to maintain higher price levels.
(Source：Crypto Briefing)