Nasdaq-listed fitness technology firm Interactive Strength Inc. (TRNR) has secured a $500 million facility to acquire Fetch.ai’s FET tokens and establish an AI-focused cryptocurrency treasury. The move positions TRNR as the first U.S. public company to build a substantial digital asset reserve targeting artificial intelligence infrastructure.
The company entered a securities purchase agreement with institutional investors ATW Partners and DWF Labs, receiving $55 million in initial funding. This capital will exclusively purchase FET tokens through over-the-counter transactions, with BitGo providing institutional-grade custody services for the treasury assets.
This initiative follows TRNR’s March 2025 raise of $3.6 million through convertible notes, demonstrating growing institutional confidence in its hybrid fitness-crypto strategy. The company operates specialty fitness brands CLMBR and FORME while expanding into Web3 technologies.
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Interactive Strength’s Dual-Pronged Growth Strategy
TRNR’s crypto treasury strategy complements its core fitness equipment business, which generated over $50 million in projected 2025 revenue before this announcement. The $500 million facility enables bulk purchases of FET tokens at negotiated prices while avoiding market slippage.
CEO Trent Ward told investors: “Digital assets are becoming essential financial infrastructure, and AI represents humanity’s greatest technological leap. By combining these forces through our FET treasury, we’re creating durable shareholder value.”
Fetch.ai’s Machine Learning Protocol Gains Institutional Backing
The FET token powers Fetch.ai’s decentralized machine learning network, which enables automated decision-making for complex systems. TRNR’s massive acquisition could increase FET’s circulating supply liquidity by 12-15% based on current market data.
Fetch.ai’s COO commented: “TRNR’s treasury initiative validates our vision for tokenized AI economies. Their fitness platforms will integrate our autonomous agent technology to personalize workout experiences.”
Institutional Investors Double Down on Crypto-AI Convergence
ATW Partners and DWF Labs structured the financing as a convertible debt facility with equity-linked features. This marks DWF’s largest Web3 investment since its 2024 market maker liquidity program.
Key financial details:
- $500M total commitment over 24 months
- Initial $55M tranche settled June 2025
- Tokens held in cold storage with BitGo
- 30% premium conversion price for equity options
The deal includes a research partnership where TRNR will develop AI personal trainers using Fetch’s neural networks. Early prototypes suggest 40% faster muscle gain in beta testers compared to standard digital programs.
Market analysts note the transaction’s timing coincides with increased SEC scrutiny of crypto treasuries. TRNR’s legal team structured the facility under Regulation D exemptions, avoiding securities registration requirements.
BitGo’s institutional custody platform will provide real-time audit trails and proof-of-reserves for the FET holdings. This infrastructure choice addresses concerns about corporate crypto accountability following recent exchange collapses.
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The announcement caused TRNR shares to surge 18% in pre-market trading, while FET tokens gained 7% against Bitcoin on major exchanges. This strategic pivot highlights how traditional companies are leveraging crypto treasuries for technological advantage rather than speculative trading.
- FET Token
- Fetch.ai’s native cryptocurrency used to power decentralized AI services and network governance.
- Crypto Treasury
- A corporate strategy of holding digital assets as reserve assets, often for technological integration or financial hedging.
- Regulation D
- A SEC provision allowing private capital raises without public registration requirements.
- Autonomous Agents
- Self-operating AI programs that execute tasks on blockchain networks without human intervention.
