The listed company iPower has reached a $30 million convertible note financing agreement to launch the DAT strategy

According to Globenewswire, Nasdaq-listed e-commerce and supply chain platform iPower announced that it has reached a $30 million convertible note financing agreement to launch its Digital Asset Treasury (DAT) strategy. The company disclosed that the initial phase of this financing will invest $9 million, of which $4.4 million is intended for the purchase of Bitcoin and Ethereum, while the remaining funds will increase working capital to strengthen the balance sheet. In subsequent funding, 80% will be used for ongoing acquisitions of digital assets.

It is reported that iPower announced a strategic shift towards crypto finance and blockchain infrastructure services in June of this year.