Shares of iPower Inc. (NASDAQ:IPW) jumped 9.3% following the company’s announcement of a significant strategic transformation aimed at aligning its business with the fast-growing world of digital assets.
The tech-focused eCommerce and supply chain firm revealed that it will begin accumulating Bitcoin as part of a newly adopted treasury strategy. Approved by the board, the move is intended to build long-term value and strengthen financial stability through the use of Bitcoin as a reserve asset.
“Our entry into Bitcoin represents a strategic allocation decision grounded in our long-term view of digital assets as a viable treasury component,” said Lawrence Tan, CEO of iPower. “We believe Bitcoin offers strong potential as a reserve asset, and this initial focus aligns with our goals of enhancing balance sheet resilience and positioning the Company in emerging financial ecosystems.”
In addition to the Bitcoin treasury initiative, iPower plans to expand its operations into blockchain-focused consumer services. The company will launch offerings that include retail sales of cloud mining capacity, distribution of home-use crypto mining hardware, and a new product line of cold storage wallets and personal crypto custody tools.
These blockchain-related services will be integrated into iPower’s proprietary SuperSuite platform, which will continue to serve both its legacy eCommerce operations and its new digital asset initiatives.
Although iPower will maintain its current business lines during the transition, the company confirmed that its strategic focus is shifting toward the cryptocurrency and blockchain economy. Further updates on treasury activities, product launches, and new partnerships are expected in the coming months.