Prenetics Global Limited said it has ended its bitcoin purchasing program and will redirect its capital and strategic focus entirely toward IM8, its fast-growing consumer health and longevity brand co-founded with David Beckham.

The Nasdaq-listed health sciences company said it ceased daily bitcoin purchases on Dec. 4, following approval from its board of directors, and will not pursue future acquisitions of the cryptocurrency. 

Prenetics will retain its existing holdings of 510 bitcoin as a treasury reserve asset but has committed not to allocate any new or existing capital toward expanding that position.

The move marks a clear shift away from a strategy the company adopted…

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