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iPower purchases $2.2 million in bitcoin and ethereum for treasury
iPower Inc. (NASDAQ: IPW) completed its initial digital asset purchases on December 26, acquiring 15.1 bitcoin and 301.1 ethereum for approximately $2.2 million total. The online retailer purchased the bitcoin at an average price of $87,686.33 per coin for $1,325,400, and acquired ethereum at an average price of $2,934.67 per coin for $883,600. The transactions were executed through a subsidiary account maintained at BitGo as part of the company's Digital Asset Treasury strategy. "We view this initial deployment as an important milestone in executing our broader crypto strategy," said Lawrence Tan, CEO of iPower. ... (full story)
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