iPower Updates Digital Asset Strategy, Initial Bitcoin and Ethereum Purchases
iPower provided a market update on the continued execution of its Digital Asset Treasury strategy, following recent disclosures related to its initial digital asset purchases. As previously announced, iPower has funded a secured, controlled Digital Asset Treasury account and completed its initial purchases of Bitcoin and Ethereum through a subsidiary account maintained with BitGo, an institutional digital asset custody and infrastructure provider. All assets are held subject to defined custody, governance and control arrangements. Since the Company's initial purchases, market prices for both Bitcoin and Ethereum have traded above the Company's respective acquisition prices, reflecting broader market movement during the period. iPower emphasized that its Digital Asset Treasury is not intended as a short-term trading strategy, but rather a disciplined, long-term component of its broader crypto strategy, implemented within defined governance and risk-management frameworks. "Execution discipline and transparency are central to how we are approaching our Digital Asset Treasury," said Lawrence Tan, CEO of iPower. "Our focus is on building digital asset exposure in a measured and controlled way, supported by institutional-grade custody, governance, and a long-term strategic framework-not on short-term market movements."
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iPower and Bullish Stocks Surge Amid Market Sentiment Fluctuations
- iPower Stock Surge: iPower's shares rose 3.5% in after-hours trading, despite retail sentiment remaining in 'bearish' territory, as users on Stocktwits forecast a potential short squeeze, indicating market interest in its future performance.
- Bullish Attracts Investor Attention: Bullish's stock gained 2.3% after Cathie Wood's Ark Invest purchased over 85,700 shares, with retail sentiment shifting from 'neutral' to 'bullish', reflecting investor optimism about its prospects.
- Overall Crypto Market Recovery: The broader cryptocurrency market edged up 0.8%, maintaining a market cap above $3.1 trillion, driven by approximately $300 million in liquidations, highlighting market volatility and cautious investor sentiment.
- Coinbase Receives Neutral Rating: Coinbase's stock increased by 0.29% in after-hours trading after Baird initiated coverage with a neutral rating and a price target of $240, suggesting a potential upside of nearly 14%, while retail sentiment remained 'bullish', indicating market expectations for future growth.
iPower Inc. Partners with Zyla to Expand U.S. E-Commerce Presence
- Channel Partnership Highlight: iPower was introduced as a U.S. retail channel partner at the Zyla conference, showcasing its expertise in helping brands expand their online sales presence, which is expected to enhance the company's influence in the U.S. e-commerce market.
- Platform Capability Enhancement: iPower's platform is designed to assist brands in scaling across major U.S. online channels through marketplace experience and value-added services, likely attracting more international merchants seeking to accelerate e-commerce growth.
- Supply Chain Collaboration Opportunities: Following the event, iPower has garnered interest from several supply chain partners, reflecting growing interest in its platform capabilities, which may lead to new collaboration opportunities and further strengthen its market position.
- Long-Term Strategic Evaluation: iPower is evaluating its operating and capital structure to maximize long-term shareholder value, indicating that the company will continue to seek complementary partnerships as it executes its long-term strategy.
