TLDR
- Predictive Oncology raised $344.4 million through private placements to build a digital asset treasury focused on Aethir’s ATH tokens
- The company became the first Nasdaq-listed firm to hold and manage Decentralized Physical Infrastructure Network (DePIN) tokens
- Stock price jumped over 70% following the announcement, reaching the highest level since March 2025
- The biotech company had been struggling with minimal revenue of $2,682 in Q2 2025 and consistent quarterly losses exceeding $2 million
- Aethir provides decentralized GPU infrastructure for AI and gaming, with ATH tokens trading under $0.06 and a $2.3 billion market cap
Predictive Oncology announced a major strategic shift on September 29, 2025. The cancer research company revealed plans to build a $344.4 million digital asset treasury centered on Aethir’s ATH tokens.
The announcement makes Predictive Oncology the first Nasdaq-listed company to hold tokens from a Decentralized Physical Infrastructure Network. DePIN networks use blockchain technology to coordinate physical computing resources.
DNA Fund and BTIG helped structure the capital strategy. The deal involves two concurrent private placements in public equity. One placement accepts cash investments while the other accepts in-kind contributions of ATH tokens.
This hybrid financing model allows Predictive Oncology to record tokenized DePIN infrastructure on its balance sheet. The structure connects traditional equity markets with decentralized computing networks.
Aethir operates a decentralized cloud network that provides GPU infrastructure for artificial intelligence applications. The network also supports high-performance computing and gaming applications. Aethir uses blockchain technology to distribute access to physical compute resources.
ATH tokens currently trade below $0.06 with a market capitalization around $2.3 billion. The 24-hour trading volume for ATH increased by more than 330% following the treasury announcement.
Stock Surges After Crypto Pivot
Predictive Oncology’s stock price surged more than 70% on Monday. The rally pushed shares to their highest point since March 2025.
The company had been struggling financially before this move. Predictive Oncology traded as a penny stock for the past two years. Second quarter 2025 revenue totaled only $2,682.
First quarter revenue reached $110,310. Net losses exceeded $2 million in each quarter. The company raised approximately $586,000 through an at-the-market offering facility to fund operations.
Predictive Oncology sold its Skyline Medical division in March. The division produced automated fluid waste management devices for medical facilities. The sale aligned with a broader strategy to cut costs and focus on AI-driven drug discovery.
Small-Cap Crypto Treasury Trend Grows
Predictive Oncology joins a growing list of small-cap companies adopting digital asset strategies. Former biotech company 180 Life Sciences rebranded as ETHZilla in July. The company announced plans to accumulate Ether as a treasury asset.
Mill City Ventures, Nature’s Miracle, Upexi, and Helius Medical Technologies have made similar moves. AVAX One, previously known as AgriFORCE Growing Systems, also integrated crypto assets into its balance sheet.
Standard Chartered analysts warned that digital asset treasury companies face valuation pressure. Market net asset values have been declining across the sector. Market net asset values compare enterprise value to crypto holdings.
The analysts cited market saturation as the primary cause of compression. Many companies adopted digital asset treasury strategies throughout 2025.
Company Plans for Proceeds
Predictive Oncology will use the placement proceeds to acquire ATH tokens. Funds will also support general corporate purposes. DNA Holdings Venture Inc. serves as a strategic advisor for the digital asset initiative.
The company aims to enhance operations by leveraging Aethir’s decentralized GPU network. This aligns with Predictive Oncology’s core business in AI-driven drug discovery for cancer treatment.
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