Prenetics (NASDAQ: PRE) will cease daily Bitcoin purchases starting December 4th and will not purchase any more BTC, maintaining its current holdings of 510 BTC as approved by the board of directors.
The company stated that it will prioritize Capital for its consumer health brand IM8 to develop products, build brand awareness, recruit personnel, and expand internationally, given that the company currently holds significant cash reserves and has no debt.
- Prenetics stopped buying BTC from December 4th and will not buy any more.
- The company holds 510 BTC, equivalent to over $70 million in cash, and has no debt.
- Focus Capital on IM8; revenue target for FY2026: $180–200 million.
Decision regarding Bitcoin: hold reserves, do not increase positions.
Prenetics has confirmed it will discontinue its daily Bitcoin purchase program starting December 4th and will not be making any new BTC purchases.
The company currently holds 510 BTC, over $70 million in cash and cash equivalents, and has zero debt. According to the announcement, the board of directors approved the use of the existing BTC reserves as financial reserves and will not allocate any additional funds.
This move indicates a shift in Capital management strategy towards conservatism: holding existing Cryptoasset but ceasing to increase exposure. The company did not announce plans to sell BTC, only stating that there would be no further purchases.
Capital focus shifts to IM8 and revenue target for 2026.
Prenetics stated that it will focus Capital on IM8 to develop the product, build the brand, recruit staff, and expand internationally.
IM8 achieved over $100 million in annualized revenue within 11 months of its launch. Management projects revenue of $180–200 million for fiscal year 2026, reflecting a priority on growth in the consumer health segment over expanding its cryptocurrency portfolio.
With over $70 million in cash equivalents and no debt, Prenetics emphasizes its ability to Capital the IM8 plan without increasing financial risk. The existing BTC holdings are held as a reserve layer at the discretion of the board of directors.
