iPower Inc. (IPW) saw its stock tumble approximately 10.87% on January 9, 2026, closing at $6.97 after announcing its initial Bitcoin and Ethereum treasury purchases via BitGo custody.
Whoa, talk about making waves in the small-cap crypto space! This micro-cap e-commerce player, sporting a market cap around $7 million and a tight-knit team of just 14, is boldly stepping into digital assets by acquiring BTC and ETH as part of a new treasury strategy. Partnering with BitGo for secure custody and transaction support shows they’re serious about governance and operational discipline in this volatile arena.
iPower Inc. (IPW) stock dropped approximately 10.87% on the day it announced its first Bitcoin and Ethereum treasury purchases.
This move highlights how even smaller public companies are joining the corporate crypto adoption trend. As covered in our pieces on heavyweights like MicroStrategy’s massive Bitcoin accumulation and Sharps Technology’s Solana validator expansion, treasuries are pushing boundaries across sizes and sectors.
iPower, which sells home, pet, and garden products online through major platforms like Amazon and Walmart, boasts a nationwide fulfillment network and in-house brands such as Simple Deluxe. Now, they’re layering in blockchain potential for future logistics or operational edges. While the press release didn’t disclose exact purchase amounts (though some reports note initial buys of about 15.1 BTC and 301.1 ETH totaling roughly $2.21 million in late December), the emphasis is on secure infrastructure via BitGo’s multi-signature and OTC capabilities.
Why iPower’s Making This Move Now
Imagine a nimble retailer spotting the crypto opportunity and diving in headfirst. CEO Lawrence Tan highlighted the focus on “governance, security and operational discipline” in the announcement, with BitGo’s Mike Belshe praising the need for robust frameworks. It’s exciting to think of their small team pivoting from hydroponics to hodling—classic underdog energy!
As of this writing, IPW trades around $6.60 amid ongoing volatility. That post-announcement dip? It’s classic in this space—investors get hyped on the concept but often react to perceived risks.
How the Market Reacted When Others Did This
Look back at the trailblazers: MicroStrategy’s 2020 Bitcoin pivot sent its stock soaring nearly 2,000% at peak, sparking a wave of imitators. In more recent plays, Sharps Technology (STSS) saw sharp moves tied to its Solana treasury—initial announcements drove big swings, though often with sell-the-news pullbacks like a 27% drop on high volume during validator news.
Not every entry is instant fireworks. Eightco Holdings had wild initial pumps followed by retreats, trading well below crypto NAV amid broader jitters. Hyperscale Data popped about 30% when Bitcoin holdings exceeded market cap, but volatility quickly followed. SharpLink Gaming’s Ethereum treasury expansions (like staking $170M on Linea) brought measured gains rather than explosive spikes. These examples show short-term reactions can swing wildly—hype fuels pops, but risks lead to dips. iPower’s ~11% drop fits the pattern: excitement meets caution in a high-stakes game where long-term outcomes hinge on crypto trends and execution.
Bottom line: Public companies now hold over $100 billion in digital assets in 2026, proving crypto treasuries are mainstreaming. iPower’s entry shows the trend reaching micro-caps—watch this space as adoption keeps accelerating!
