TLDR
- Predictive Oncology, a Nasdaq-listed cancer research company, launched a $344.4 million digital asset treasury centered on Aethir’s ATH token, becoming the first publicly traded company to hold tokens from a Decentralized Physical Infrastructure Network (DePIN)
- The capital strategy involved two concurrent private placements in public equity (PIPEs), combining cash investment with in-kind contributions of ATH tokens, structured with guidance from DNA Fund and BTIG
- Predictive Oncology’s stock surged more than 70% on Monday following the announcement, reaching its highest level since March
- Before this pivot, the company traded as a penny stock with minimal revenue of just $2,682 in Q2 2025 and net losses exceeding $2 million per quarter
- Aethir is a decentralized cloud network providing GPU infrastructure for AI and gaming applications, with ATH tokens currently trading under $0.06 and a market cap of approximately $2.3 billion
Predictive Oncology announced a $344.4 million digital asset treasury on September 29, 2025. The cancer research company will focus its holdings on Aethir’s ATH token.
$344M Aethir (ATH) Digital Asset Treasury for scaling AI infra is here 🏦
Launched by Predictive Oncology (NASDAQ: POAI), the Aethir (ATH) DAT is designed to give investors direct exposure to yields from real GPU utilization.
And, behind that stands Aethir — the largest… pic.twitter.com/AxqeiNbESA
— Aethir (@AethirCloud) September 30, 2025
The move makes Predictive Oncology the first Nasdaq-listed company to hold and manage tokens from a Decentralized Physical Infrastructure Network. DePIN refers to blockchain-based networks that coordinate physical computing resources.
DNA Fund provided guidance on the capital strategy. BTIG served as the placement agent. The deal was structured as two concurrent private placements in public equity.
One placement involved cash investment. The other involved in-kind contributions of ATH tokens. This hybrid structure allows the company to record tokenized DePIN infrastructure as a balance sheet asset.
Aethir operates a decentralized cloud network that provides GPU infrastructure. The network serves AI applications, high-performance computing, and gaming. It uses blockchain technology to coordinate access to physical compute resources.
ATH tokens currently trade under $0.06. The token has a market capitalization of about $2.3 billion according to CoinMarketCap. Trading volume for ATH increased by more than 330% in 24 hours following the treasury announcement.
Stock Response and Company Background
Predictive Oncology’s stock jumped more than 70% on Monday after the announcement. The rally pushed shares to their highest level since March.
The company had struggled financially before this pivot. Predictive Oncology spent the last two years trading as a penny stock. Revenue totaled just $2,682 in the second quarter of 2025.
First quarter revenue reached $110,310. The company posted net losses exceeding $2 million in each period. Predictive Oncology raised about $586,000 through an at-the-market offering facility in its most recent quarter.
In March, the company sold its Skyline Medical division. The division manufactured automated fluid waste management devices for medical centers. The sale was part of a strategy to reduce expenses and refocus on AI-driven drug discovery.
Growing Trend Among Small-Cap Companies
Predictive Oncology joins other small-cap and microcap firms adopting digital asset treasury models. In July, biotech company 180 Life Sciences rebranded as ETHZilla. The company announced plans to accumulate Ether as a treasury asset.
Other publicly traded companies have made similar moves. Mill City Ventures, Nature’s Miracle, Upexi, Helius Medical Technologies, and AVAX One have integrated crypto assets into their balance sheets. AVAX One was formerly known as AgriFORCE Growing Systems.
Standard Chartered analysts issued a warning about digital asset treasury companies. They said these companies could face a valuation squeeze. Market net asset values have been declining.
Market net asset values compare a company’s enterprise value to its crypto holdings. Standard Chartered pointed to market saturation as the main driver of recent compression. Many companies have adopted digital asset treasury strategies in 2025.
The company plans to use proceeds from the placements to acquire ATH tokens. Funds will also support general corporate purposes. DNA Holdings Venture Inc serves as a strategic advisor for the initiative.
