Key Takeaways
- Prenetics halts its Bitcoin purchasing program to focus on its successful consumer health brand, IM8.
- The decision was approved by the Board of Directors, emphasizing the prioritization of shareholder value through the IM8 brand.
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Prenetics, a Nasdaq-listed healthcare firm, announced Tuesday it has stopped its Bitcoin acquisitions to focus exclusively on its consumer health brand IM8. The company will maintain its Bitcoin stash, which has grown to 510 coins valued at over $45 million.
Co-founded by David Beckham, IM8 offers all-in-one nutritional powders that replace complex daily routines. Scaling rapidly, the company hit $100 million in annualized recurring revenue within 11 months and forecasts $180–$200 million for fiscal year 2026.
Explaining the decision, CEO Danny Yeung said IM8’s performance has outpaced the company’s initial projections, prompting leadership to unanimously conclude that focusing resources on the product offers the greatest potential for sustainable value creation.
“We are incredibly excited about the future of IM8 and are confident that by focusing our efforts, we can propel its growth to even greater heights,” Yeung added. “Operating from a position of strength, we are making disciplined strategic decisions that reflect our experience as operators and our commitment to maximizing long-term shareholder value.”
Prenetics will allocate capital to IM8’s growth, including product innovation, brand building, talent acquisition, and international expansion. The company currently holds over $70 million in cash and cash equivalents.
