Prenetics(US:PRE) Yahoo Finance·2025-12-31 00:27Core Insights - Prenetics Global has ceased accumulating Bitcoin as of December 4, focusing instead on its nutrition supplement brand IM8, which has shown significant revenue growth [1][4] - The company's existing Bitcoin holdings amount to 510 BTC, valued at approximately $45 million, which will be retained as a treasury reserve asset [1][4] - Prenetics' strategic pivot is aimed at maximizing long-term shareholder value through the IM8 brand, which has already achieved $100 million in recurring revenue within its first 11 months [4] Company Strategy - Prenetics initiated a "1 BTC per day" strategy on August 1, accumulating around 275 BTC worth about $31 million by October 27, but has now shifted focus away from Bitcoin accumulation [3] - The company raised $48 million in an oversubscribed equity round in October to support its Bitcoin strategy, with a long-term goal of reaching $1 billion in Bitcoin holdings within five years [3] - The decision to stop Bitcoin purchases reflects a disciplined approach to strategic decision-making, emphasizing the commitment to sustainable shareholder value [2] Financial Performance - Following the announcement of the strategic shift, Prenetics' stock (PRE) fell by 3.5%, trading around $15.74, although it has risen 189% year-to-date [6] - In contrast, Bitcoin has experienced a decline of approximately 5.6% during the same period, indicating a challenging market environment for digital assets [6] - Other companies in the digital asset treasury space, such as ETHZilla, have also shifted focus away from crypto holdings, highlighting a broader trend in the industry [5]