Prenetics Global Limited has paused its Bitcoin purchasing program and will no longer add to its BTC holdings, announcing a capital shift toward developing its consumer nutrition brand IM8. The company stated that the buying pause began on December 4, with existing holdings to be retained.
Prenetics Stops Buying Bitcoin
The decision to halt daily purchases, which started in June, is driven by the priority to scale IM8 — Prenetics’ consumer nutraceutical division. The company emphasized that it is not selling existing assets and will keep Bitcoin on its balance sheet.
Prenetics’ Financial Results and Assets
The company holds 510 Bitcoin on its balance sheet along with over $70 million in cash and cash equivalents. According to Prenetics, IM8 surpassed $100 million in annual recurring revenue within 11 months of launch, prompting the capital reallocation.
Prenetics’ Bitcoin Investments
In June, Prenetics launched a Bitcoin reserve strategy, investing $20 million to acquire approximately 187 BTC at an average price of $106,712 per coin. Following the purchase pause, the company plans to retain its accumulated 510 BTC without making additional acquisitions.
Market Reaction and Outlook
Prenetics shares fell 3.32% on Tuesday’s trading day, although they have risen about 170% over the past year. Amid the strategy shift, some market participants continue their plans: notably, Strategy holds 672,497 BTC after its latest purchase, with executives anticipating further price growth.
Companies Holding Bitcoin on Their Balance Sheets
According to aggregators, 192 public companies collectively hold nearly 1.1 million BTC on their balance sheets, with the majority concentrated among a few major market players. For comparison and context, see the overview of corporate Bitcoin ownership leaders and other examples of corporate Bitcoin purchases.
Why This Matters
If you mine or track corporate movements, Prenetics’ decision shows that companies may shift cryptocurrency reserve strategies to focus on core business growth. Importantly, pausing purchases does not equal selling assets: Prenetics retains a significant BTC reserve and cash holdings, affecting its risk profile and liquidity.
What Should You Do?
For miners operating 1–1000 devices in Russia, it’s important to understand that this corporate decision is unlikely to directly impact daily equipment operation or mining income. However, monitoring major holders’ moves is advisable, as their decisions influence market dynamics and price volatility.
Practical steps include maintaining cash reserves for unforeseen expenses, avoiding reliance on quick price changes driven by a single company’s decisions, and reviewing news and reports from major holders to anticipate potential volatility.
See also: Prenetics Halts Bitcoin Purchases and the overview of Corporate Bitcoin Ownership Leaders; additionally, the article about MicroStrategy in Nasdaq 100 offers insight into major players’ strategies.