Prenetics, a healthcare company listed on Nasdaq, has decided to discontinue its Bitcoin purchasing program to concentrate fully on its thriving consumer health brand, IM8. Despite halting new acquisitions, the firm will retain its existing Bitcoin holdings of 510 coins, currently valued at over $45 million.
IM8, co-founded by David Beckham, specializes in comprehensive nutritional powders designed to simplify daily health routines. The brand has experienced rapid growth, achieving an annualized recurring revenue of $100 million within just 11 months and projecting revenues between $180 million and $200 million for the fiscal year 2026.
CEO Danny Yeung explained that IM8’s outstanding performance exceeded initial expectations. This success led the leadership team to unanimously decide that dedicating resources exclusively to IM8 would maximize sustainable value creation for shareholders.
“We are extremely optimistic about IM8’s future prospects and believe that concentrating our efforts will accelerate its expansion significantly,” Yeung stated. “With a strong foundation in place, we are making strategic choices grounded in our operational expertise and commitment to enhancing long-term shareholder returns.”
The company plans to channel investments into various aspects of IM8’s development including product innovation, marketing initiatives, talent recruitment, and global market penetration. Currently holding more than $70 million in cash reserves provides Prenetics with ample financial flexibility.
This move away from accumulating additional Bitcoin comes amid a cooling sentiment within the cryptocurrency market. Although occasional price rebounds occur, Bitcoin remains near the $88,500 mark after struggling for weeks below the significant threshold of $100,000.
As it stands now,the leading digital currency is poised to close out 2025 with losses.The majority of analysts anticipate 2026 will be characterized by stabilization rather than dramatic growth,because few immediate factors appear likelyto trigger substantial price increases anytime soon.