PANews, December 23 - According to Globenewswire, the Nasdaq-listed e-commerce and Supply Chain platform iPower has 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 first phase of this financing will invest $9 million, of which it plans to use $4.4 million to purchase Bitcoin and Ether, while the remaining funds will increase working capital to strengthen the balance sheet. 80% of the subsequent funds will be used for ongoing acquisition of digital assets.
According to previous news, iPower announced a strategic shift to cryptocurrency finance and blockchain infrastructure services in June this year.
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