JUNE 11, 2025 | Fellow Shareholders:

 

TRNR Just Delivered a Bold Crypto Treasury Reserve Asset Strategy (up to $500M!) –  and That Strategy’s First $55M Crypto Investment. 

 

Here’s Why It Matters.

 

Today, we’re announcing something big — the kind of milestone that we believe validates both our strategy and our execution.

 

TRNR has closed the first $55 million of a new crypto treasury reserve asset facility that could reach $500 million and which is focused on acquiring the $FET token — a leading AI digital asset from Fetch.ai.

 

If you’ve followed our updates over the past several months, you know we’ve been transparent about exploring a crypto treasury strategy. In fact, we first flagged this direction back in November 2024. 

 

Today, we’re not just talking about that plan — we’ve delivered on it.

 

This $55 million transaction was backed by institutional capital from respected partners like ATW Partners and DWF Labs, and facilitated by BitGo, a global leader in digital asset custody. 

 

Some of the capital raised will provide working capital for TRNR’s operations, M&A integration, and balance sheet transformation, but the majority of it will be used to invest in the $FET token. But, make no mistake: this isn’t just any crypto play.

 

Why $FET?

 

We chose $FET because it’s not just a token — it’s infrastructure for AI utility.

 

Fetch.ai’s $FET ecosystem powers autonomous AI agents – self-learning tools that can optimize logistics, health systems, financial markets, and soon… connected fitness. Unlike traditional AI models that only generate content, these agents are designed for real-world action – personalizing workouts, predicting maintenance, optimizing data flow, and even enabling token-based incentives for healthier behavior.

 

For TRNR, $FET does three things:

 

• Links TRNR, Sportstech, and Wattbike under a shared AI+Web3 architecture

• Powers future opportunities to launch an AI personal training platform

• Positions TRNR at the frontier of fitness, AI, and decentralized consumer engagement

 

In short: we expect that this token has utility to us today — and growth upside for tomorrow.

 

The Bigger Picture

 

With this announcement, TRNR is expected to become the largest crypto treasury reserve asset program by a U.S. public company to focus on an AI-token. And it comes at a time when AI, crypto, and fitness are converging fast.

 

• Daily active users of decentralized AI tools jumped 26% last month
• The AI wellness market is forecast to grow 5x in the next decade
• Institutional crypto adoption is rising — and we’re now part of that wave

 

We’re not alone. MicroStrategy leaned into bitcoin. SharpLink chose Ethereum. Upexi chose Solana. But we’re taking it a step further — putting AI utility at the center of our platform and balance sheet.

 

What This Means for TRNR Shareholders

 

This is a key move that delivers on our strategy of creating risk-adjusted upside for shareholders in the connected fitness space. 

 

• It increases the flexibility of our balance sheet.

• It builds a bridge between TRNR and the fast-moving world of decentralized AI.

• It brings real, respected capital into the TRNR story.

 

And it highlights a simple truth: TRNR is saying what we’re going to do, and then doing it.

 

From M&A execution to AI training innovations to crypto-backed balance sheet improvements – this is a company moving with conviction and speed. 

 

While the share price hasn’t yet reflected this momentum, the institutional support behind this deal sends a clear message: the market is waking up.

 

What’s Next

 

This is just Phase 1. The full facility allows for up to $500 million to be raised and for the vast majority earmarked to purchase $FET, which is a top 50 cryptocurrency and top 5 AI-focused cryptocurrency,  and we intend to be just as methodical and forward-thinking with every step.

We’re also deep into M&A integration work, AI product rollouts, and next-gen fitness experiences that will set TRNR apart in the months ahead.

Thank you, as always, for your belief in the mission.

 

Let’s keep building.
— The TRNR Team

 

Forward Looking Statements:

This post includes certain statements that are “forward-looking statements” for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of Forward-looking statements do not relate strictly to historical or current facts and reflect management’s assumptions, views, plans, objectives and projections about the future. Forward-looking statements generally are accompanied by words such as “believe”, “project”, “expect”, “anticipate”, “estimate”, “intend”, “strategy”, “future”, “opportunity”, “plan”, “may”, “should”, “will”, “would”, “will be”, “will continue”, “will likely result” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the possibility of acquiring future businesses or completing the referenced pending transactions in a timely manner or at all, the ultimate gross proceeds of the financing, the Company having the largest US publicly listed crypto treasury focused on an AI-token, and the financing strengthening the Company’s financial flexibility, supporting the Company’s AI and digital fitness ambitions, and increasing shareholder exposure to next-generation growth assets. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Company. Risks and uncertainties include but are not limited to: whether ATW Partners and / or DWF Labs will invest further amounts, other US publicly listed companies’ crypto strategies, and the price of $FET tokens. A further list and descriptions of these risks, uncertainties and other factors can be found in filings with the Securities and Exchange Commission. To the extent permitted under applicable law, the Company assumes no obligation to update any forward-looking statements.