Ethereum News Today: Cosmos Health Stock Jumps 30% After $300M Ethereum Treasury Funding

Cosmos Health (NASDAQ: COSM) announced on August 6 that it has secured a $300 million financing facility from a U.S.-based institutional investor to establish its corporate Ethereum (ETH) treasury reserve strategy. The company plans to use at least 72.5% of the net proceeds to build its Ethereum treasury, with the remaining funds allocated for general corporate purposes [1]. BitGo has been named the custodian for its ETH assets, ensuring secure management of the digital holdings [1].

The announcement sent Cosmos Health’s stock surging nearly 30% on Wednesday, with the stock closing at $1.150. The 24-hour trading range was between $0.725 and $1.128, and the trading volume exceeded 10 million shares, significantly above its average of 455,169 [1]. The surge in investor interest highlights the growing appeal of companies adopting Ethereum treasury strategies, with Cosmos Health joining the ranks of the top 10 corporate ETH treasuries, including BitMine Immersion, SharpLink Gaming, and The Ether Machine [1].

Greg Siokas, CEO of Cosmos Health, described the move as a strategic milestone for both the company and its shareholders, emphasizing the potential for direct exposure to Ethereum and the long-term contribution to the Ethereum ecosystem [1]. The company also plans to stake its ETH holdings to generate yields, which it expects will enhance cash flow and utility from its digital asset portfolio [1].

In a broader market context, the total ETH treasury across 65 companies now exceeds 3.04 million ETH, valued at over $11.09 billion [1]. BitMine Immersion remains the largest corporate Ethereum holder, with 833.1K ETH valued at $3.05 billion. Recent activity has seen several major companies, including Tom Lee’s BitMine Immersion, The Ether Machine, and GameSquare, continue to add significant ETH holdings to their reserves [1].

Cosmos Health stated that its Ethereum treasury will support its ongoing digital transformation and e-commerce initiatives. The company is also exploring blockchain applications in supply chain traceability, wellness incentive programs, and global consumer engagement [1].

The Ethereum price has risen nearly 2% following the news, trading at $3,655 with a 24-hour range of $3,547 to $3,674. Despite a 20% decline in trading volume over the past 24 hours, derivatives market data from CoinGlass shows increased open interest in ETH futures, with a 1% rise in total ETH futures open interest in the last four hours. CME and Binance both reported increases in ETH futures open interest of 1.60% and 1.20%, respectively, indicating that traders are positioning for potential further gains [1].

Source: [1] Cosmos Health Stock Shoots 30% as it Secures $300M for Ethereum Treasury

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