US-listed company iPower has reached a $30 million funding agreement to purchase BTC and ETH to establish a DAT strategy.
TL;DR
Nasdaq-listed iPower secured a $30 million funding deal to start a Digital Asset Treasury strategy. The initial $9 million includes $4.4 million for buying Bitcoin and Ethereum, with most future funds aimed at further digital asset acquisitions.
Tags
According to Foresight News , Nasdaq-listed 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 first phase of this financing will invest $9 million, of which $4.4 million is intended to be used to purchase Bitcoin and Ethereum. The remaining funds will be used to increase working capital to bolster the balance sheet, and 80% of the subsequent funds will be used for continued acquisitions of digital assets.