- Predictive Oncology announced a $344.4 million digital asset treasury centered on Aethir’s ATH token, marking a first for a Nasdaq-listed company.
- The treasury combines traditional PIPE funding with in-kind ATH contributions, allowing DePIN infrastructure to be recorded as a balance sheet asset.
- Shares surged over 70% following the announcement, as the move positions Predictive Oncology among a growing number of companies adopting crypto-based treasury strategies.
Predictive Oncology (POAI), a biotechnology company focused on AI-driven cancer research, has announced a $344.4 million digital asset treasury built around Aethir’s ATH token. This marks the first time a Nasdaq-listed company will actively manage tokens from a Decentralized Physical Infrastructure Network (DePIN).
The capital strategy, developed with guidance from DNA Fund and placement support from BTIG, was executed through two concurrent private placements in public equity (PIPEs), combining cash investment with in-kind contributions of ATH tokens. The model allows Predictive Oncology to list tokenized DePIN infrastructure as a balance sheet asset, bridging traditional equity markets with decentralized computing networks.
Aethir provides decentralized GPU infrastructure for AI, high-performance computing, and gaming applications. Its blockchain-based system coordinates access to physical compute resources, with ATH tokens representing participation in the network. ATH is trading below $0.06, with a market capitalization of about $2.3 billion, and 24-hour trading volume surged over 330% following the treasury announcement.
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Blockchain pivot boosts Predictive Oncology shares
Investors responded positively to the company’s pivot toward decentralized infrastructure, with shares rising more than 70% on the day of the announcement, reaching their highest level since March.
Prior to this move, Predictive Oncology had operated as a penny stock with limited revenue and consistent quarterly losses reporting $2,682 in revenue for Q2 2025 and $110,310 for Q1, alongside net losses exceeding $2 million each quarter. The company raised approximately $586,000 through an at-the-market offering in its most recent quarter and sold its Skyline Medical division in March to cut costs and focus on AI-driven drug discovery.
Growing trend of digital asset treasury adoption
Predictive Oncology joins a broader trend of small-cap and microcap companies shifting toward digital asset treasury strategies. In July, 180 Life Sciences rebranded as ETHZilla to accumulate Ether (ETH) as a treasury asset. Other publicly traded firms including Mill City Ventures (MCVT), Nature’s Miracle (NMHI), Upexi (UPXI), Helius Medical Technologies (HSDT), and AVAX One have similarly integrated crypto holdings into their balance sheets.
Analysts at Standard Chartered caution that digital asset treasury companies may face valuation pressures as market net asset values (mNAVs) continue to decline. We see market saturation as the main driver of recent mNAV compression, the analysts noted, referring to the surge in companies adopting digital asset treasury models this year.
