Overview
- Prenetics stopped daily bitcoin purchases on December 4 and will make no further acquisitions, retaining 510 BTC as a treasury reserve.
- Capital will be allocated exclusively to IM8’s growth initiatives, including product development, brand building, talent, working capital, and international expansion.
- IM8 surpassed $100 million in annualized recurring revenue within 11 months and leverages high-profile backing from David Beckham and Aryna Sabalenka.
- The company reports a strong balance sheet with over $70 million in cash and cash equivalents and zero debt.
- The pivot follows an October $48 million raise that had included plans to build a bitcoin treasury and comes as more firms reassess crypto-heavy treasury strategies.