As reported by CoinEdition, Prenetics has halted its Bitcoin accumulation strategy less than three months after raising $48 million. The company will now redirect capital toward scaling its consumer health brand, IM8. Prenetics currently holds 510 BTC as a passive reserve asset and will not pursue further Bitcoin purchases. The decision follows a prolonged downturn in the crypto market, which has undermined the viability of digital asset treasury models. IM8, described as one of the fastest-growing supplement brands, has achieved over $100 million in annualized recurring revenue in its first year. Prenetics now views IM8 as a more stable and revenue-generating opportunity compared to Bitcoin accumulation.
Beckham-Backed Prenetics Abandons Bitcoin Accumulation Plan, Shifts Focus to IM8 Brand Growth
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Summary
Bitcoin news broke as Prenetics halts its Bitcoin accumulation plan, just weeks after securing $48 million. The firm will now focus on expanding its health brand, IM8, which has already hit $100 million in annualized recurring revenue. Prenetics still holds 510 BTC as a reserve but will not buy more. The shift comes amid Bitcoin market news showing ongoing crypto weakness, making digital assets less attractive for growth. IM8 is now seen as a steadier revenue source than Bitcoin accumulation.
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