Bitcoin News Today: Prenetics' Dual-Engine Strategy Attracts Crypto Firms, Celebs in $48M Raise

Prenetics Global Limited (NASDAQ: PRE) has secured $48 million in an oversubscribed equity offering, drawing participation from a high-profile mix of cryptocurrency firms, institutional investors, and celebrities. The raise, which includes a dual-warrant structure potentially unlocking an additional $216 million if fully exercised, underscores the health sciences company's dual focus on expanding its supplement brand IM8 and building a Bitcoin treasury. The offering closed on October 28, 2025, with notable backers including cryptocurrency exchange Kraken, Bitcoin mining pioneer Jihan Wu's GPTX, publicly traded Exodus (NYSE: EXOD), and tennis star Aryna Sabalenka, according to an Investing.com report.

The $48 million infusion follows IM8's rapid ascent as a global supplement brand, achieving $100 million in annual recurring revenue within 11 months of its December 2024 launch. The brand, co-founded with soccer icon David Beckham, now generates over $8.6 million in monthly revenue and projects $160–$200 million in 2026 sales. CEO Danny Yeung highlighted IM8's role as Prenetics' "dual-engine strategy," alongside its Bitcoin treasury, which holds 275 BTC ($31 million as of October 27) accumulated through a daily 1-Bitcoin purchase program initiated in August, according to a Prenetics press release.

The offering's structure features Class A and B warrants exercisable at 50% and 100% premiums to the $16.08 per-share price, providing flexibility for investors to capitalize on potential stock appreciation. Strategic partners such as Bitdeer Technologies Group (NASDAQ: BTDR) and XtalPi (2228.HK) bring expertise in Bitcoin mining infrastructure and AI-driven health product development, respectively. Celebrities like Sabalenka and Adrian Cheng, an original Prenetics investor, further validate the company's consumer-facing ambitions.

Prenetics also announced plans to divest non-core business units to concentrate resources on IM8 and Bitcoin acquisition. Yeung outlined a five-year goal of $1 billion in annual revenue and $1 billion in Bitcoin holdings, leveraging the company's strengthened balance sheet—$100 million in cash and $31 million in Bitcoin post-offering. The strategy aligns with broader market trends, including record Bitcoin ETF inflows and institutional adoption of crypto treasuries, though it contrasts with recent volatility in Bitcoin options markets ahead of Halloween expiries .

The fundraising reflects growing institutional confidence in hybrid models blending traditional and digital assets. Kraken's participation, alongside its recent $500 million funding round led by Jane Street Capital, signals a broader trend of Wall Street firms deepening crypto exposure. Meanwhile, SpaceX's recent $134 million Bitcoin wallet reorganization highlights corporate treasuries' increasing engagement with the asset class.

Prenetics' Bitcoin treasury now ranks among notable corporate holdings, though it trails larger entities like Strategic (640,418 BTC) and MicroStrategy. The company's dual focus on consumer health and digital assets positions it to capitalize on both the $704 billion global supplements market and Bitcoin's ongoing institutional adoption.