iPower Secures $30 Million for Digital Asset Strategy

According to PANews, Nasdaq-listed e-commerce and supply chain platform iPower has announced a $30 million convertible note financing agreement to initiate its Digital Asset Treasury (DAT) strategy. The company revealed that the initial phase of this financing will involve an investment of $9 million, with $4.4 million earmarked for the purchase of Bitcoin and Ethereum. The remaining funds will be used to enhance working capital and strengthen the balance sheet, with 80% of subsequent funds allocated for ongoing digital asset acquisitions. Earlier this year, in June, iPower announced a strategic shift towards crypto finance and blockchain infrastructure services.