"Prenetics Global Limited said it has ended its bitcoin purchasing program and will redirect its capital and strategic focus entirely toward IM8, its fast-growing consumer health and longevity brand co-founded with David Beckham. The Nasdaq-listed health sciences company said it ceased daily bitcoin purchases on Dec. 4, following approval from its board of directors, and will not pursue future acquisitions of the cryptocurrency."
"Prenetics said the decision reflects the rapid growth of IM8, which it described as the fastest-growing supplement brand in the industry's history. The company said IM8 surpassed $100 million in annualized recurring revenue within 11 months of launch and is projected to generate between $180 million and $200 million in revenue in fiscal year 2026. "The phenomenal success of IM8 has exceeded all expectations and scaled much faster than our original expectations," said Danny Yeung, Prenetics' chief executive officer and co-founder."
Prenetics ended its bitcoin purchasing program and ceased daily bitcoin purchases on Dec. 4 after board approval. The company will keep its existing holding of 510 bitcoin as a treasury reserve asset and will not allocate new or existing capital to expand that position. Capital and strategic focus will shift entirely to IM8, a consumer health and longevity brand co-founded with David Beckham. IM8 surpassed $100 million in annualized recurring revenue within 11 months of launch and is projected to generate $180–$200 million in revenue in fiscal 2026. Prenetics holds over $70 million in cash and equivalents and has zero debt, supporting IM8 growth without external financing.
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