iPower Inc. (Nasdaq: IPW) entered into a non‑binding Memorandum of Understanding with Nanopulse Technology Ltd. on February 23, 2026. The agreement outlines a collaboration that will use iPower’s U.S.‑based supply‑chain, fulfillment, and e‑commerce capabilities to commercialize Nanopulse’s crypto‑infrastructure hardware at scale.
Under the MOU, iPower will explore a multi‑layered economic model that could generate near‑term revenue from hardware sales and, if the parties reach definitive agreements, a commission‑based share of future income generated by the distributed hardware. The parties also plan to discuss iPower’s potential participation as a U.S.‑based validator or node operator, contingent on separate technical, legal and commercial agreements.
iPower’s pivot into the crypto space began in June 2025 with the launch of a Bitcoin treasury and blockchain infrastructure services. Recent financial reports show the company has experienced declining revenue and net losses, but it has also reduced operating expenses and lowered debt. The partnership represents a strategic effort to leverage iPower’s logistics expertise to capture a share of the growing crypto‑hardware market, which the company views as a natural extension of its digital‑asset strategy.
Nanopulse Technology Ltd. is a developer of specialized hardware for the crypto and digital‑asset industry, describing itself as a builder of “game‑changing chips.” While the partnership does not yet disclose specific product lines or market share, the collaboration positions iPower to distribute cutting‑edge hardware that supports blockchain networks’ physical infrastructure needs.
Management emphasized the strategic fit: “Crypto networks increasingly depend on physical infrastructure, but most projects are not built to efficiently sell, ship and support hardware at scale. This initiative positions iPower as the execution layer that bridges crypto‑native innovation with real‑world distribution, operational discipline and compliance.” The deal could create a recurring revenue stream and deepen iPower’s footprint in a high‑growth sector.
Analysts have expressed caution, with one issuing a “Sell” rating and no consensus price target available. The company’s stock was trading near its 52‑week low of $3.20, at $2.62, after an 82% decline over the past year, reflecting the market’s skepticism about the timing and scale of the partnership.
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