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Investing.com -- iPower Inc. (NASDAQ:IPW) stock jumped 9.3% after the company announced a major strategic shift to reposition itself as a crypto treasury and blockchain infrastructure services company.
The Nasdaq-listed technology-driven eCommerce and supply chain platform said its board approved plans to start accumulating Bitcoin as a treasury reserve asset, aiming to create a long-term store of value and enhance the company’s financial resilience.
"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."
Beyond its Bitcoin treasury initiative, iPower plans to expand into blockchain-related retail services. The company intends to leverage its operational expertise to act as a retailer of cloud mining power, distribute home-use mining equipment, and launch a new line of cold wallets and personal digital asset custody tools.
These new services will be integrated into iPower’s proprietary SuperSuite platform, which will continue supporting both eCommerce and blockchain-aligned business solutions. While iPower will maintain its existing operations during the transition, its primary focus will shift toward the digital asset economy.
The company said it expects to release additional updates regarding its treasury activities, new product offerings, and partnerships in the coming months.
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