US-listed company iPower has reached a $30 million funding agreement to purchase BTC and ETH to establish a DAT strategy.

Odaily Planet Daily reports that Nasdaq-listed iPower has announced a $30 million convertible note financing agreement to launch its Digital Asset Treasury (DAT) strategy. The company disclosed that the initial $9 million of this financing will be used, with $4.4 million intended for purchasing Bitcoin and Ethereum. The remaining funds will be used to increase working capital and bolster the balance sheet. 80% of subsequent funds will be used for continued acquisitions of digital assets. (Globenewswire)