iPower secures $30 million convertible note facility for digital assets

iPower Inc. (NASDAQ: IPW) announced it entered into a $30 million convertible note financing facility with a US-based institutional investor to launch its Digital Asset Treasury strategy.

The company will receive an initial $9 million in committed funding, with approximately $4.4 million designated to establish a Digital Asset Treasury holding Bitcoin and Ethereum. The remaining proceeds will repay existing short-term bridge loans and provide working capital. For subsequent funding tranches, about 80% of proceeds are intended for digital asset acquisitions.

iPower reported $59 million in trailing 12-month revenue as of September 30, 2025. The company operates as an online retailer and e-commerce services provider with a nationwide fulfillment network.

"This financing strengthens our capital structure with long-term aligned capital, giving us the flexibility to execute a durable growth strategy," said Lawrence Tan, CEO of iPower.

The company plans to use the facility for strategic acquisitions and investment opportunities, as well as working with licensed digital asset product providers to develop consumer-facing products using its existing digital platforms and analytics capabilities.

iPower stated the Digital Asset Treasury represents its first step in executing a broader cryptocurrency strategy, positioning the company at the intersection of digital assets and commerce. The company continues to evaluate its operating and capital structure to maximize stockholder value.

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