ZOOZ Strategy Ltd. files its annual Form 20-F outlining a major shift to a bitcoin treasury reserve strategy alongside a shrinking legacy EV-charging related business. The company now concentrates a significant portion of its assets in bitcoin, highlighting extreme price volatility, evolving regulation, custody risk and new U.S. GAAP fair value accounting that may cause large swings in reported earnings.
ZOOZ discloses it sold no additional ZOOZTER-100 systems in the second half of 2025 and currently generates no revenue while it explores strategic alternatives for its flywheel-based legacy operations. Extensive risk factors cover digital asset regulation in the U.S., Israel and other markets, potential investment company issues if bitcoin were deemed a security, cybersecurity threats, and intense competition and policy dependence in EV charging and related energy storage markets.
Newtyn Management, LLC filed a Schedule 13G reporting a passive ownership stake in ZOOZ Strategy Ltd. Newtyn Management may be deemed to beneficially own 13,886,331 ordinary shares, representing 8.6% of the class.
Its affiliate Newtyn TE Partners, LP directly holds 8,720,616 ordinary shares, or 5.4% of the class, with Newtyn Partners, LP holding the remaining shares attributed to Newtyn Management. The ownership percentages are based on 161,899,782 ordinary shares outstanding as of September 29, 2025. The filing states the securities are not held for the purpose of changing or influencing control of the issuer.
ZOOZ Strategy Ltd. reports preliminary 2025 figures showing a much stronger balance sheet and a shift toward its Bitcoin-focused strategy. As of December 31, 2025, the company had cash and cash equivalents of about $27.1 million, up from $2.5 million at June 30, 2025 and $7.5 million at December 31, 2024, mainly from private placements completed in July and September 2025. By year-end 2025 it had no outstanding debt beyond roughly $1.3 million of routine payables and had fully repaid promissory notes totaling $3.15 million that were owed at prior dates.
Since adopting a Bitcoin treasury strategy in July 2025, ZOOZ purchased 1,046 Bitcoin at an average price of $112,745, for total consideration of about $121.9 million, and held all of it at December 31, 2025. Through its ATM program, it sold 1,047,320 and 95,500 ordinary shares at average prices of $2.39 and $1.79, raising gross proceeds of about $3,989,933. The company paused new ZOOZTER™-100 system sales in the second half of 2025 while pursuing strategic alternatives, including talks with a defence and intelligence electronics company and exploring cash-flowing businesses in the Bitcoin ecosystem. Two directors resigned for personal reasons effective January 20, 2026, and the board size was reduced from eight to six members.