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The customer-signed LOI outlines potential annual fees of up to $21.90 million if expanded to about 396 units at $4,608 per month each. The initial 48 units imply about $2.65 million annualized; terms remain subject to a definitive agreement.
iPower said its subsidiary received a customer-signed letter of intent for services targeting $21.90 million in potential annualized revenue. The customer expansion plan contemplates increasing AI computing units from 48 to 396.