iPower Inc.

iPower Inc. is a technology- and data-driven infrastructure company built on supply chain services, real-world commerce, and partner-based logistics and fulfillment. The company uses its own software, data, and operational experience, along with a network of partners for procurement, logistics, fulfillment, warehousing, and commerce, to support supply chain services, commerce infrastructure, and related business opportunities. iPower is currently focusing strategically on acquiring, financing, and leasing AI infrastructure and related opportunities. The company also holds a limited digital asset treasury position, which it started building through purchases in December 2025. Management is currently reducing some digital asset exposure and prioritizing direct AI infrastructure and related operating opportunities, subject to restrictions on assets in the company's controlled collateral account. iPower adopted its initial Digital Asset Treasury (DAT) strategy in June 2025 and began implementing it with purchases in December 2025. The DAT strategy was initially designed to provide limited balance-sheet exposure to potential appreciation in digital assets and to diversify a portion of its treasury assets. This strategy guides the company's corporate treasury and capital-allocation activities. The strategy, overseen by management within board-approved policies, is flexible and helps manage capital allocation. iPower does not operate a digital asset investment fund, exchange, broker-dealer, investment advisory business, or customer custody business, and does not use an external investment manager for these investments. Its DAT assets are held with BitGo Trust Company, Inc., a South Dakota chartered trust company. In December 2025, iPower acquired approximately 15.1 Bitcoin for approximately $1.325 million and approximately 301.1 Ethereum for approximately $0.884 million.