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Cosmos Health Builds Ethereum Treasury

Cosmos Health has closed a $300 million funding round to build an Ethereum Treasury.

By Mike Hesp
• 2 min read
Cosmos Health Builds Ethereum Treasury

Cosmos Health has completed a funding round of $300 million to build an Ethereum Treasury. That’s how the stock reacted.

The Nasdaq-listed Cosmos Health has successfully closed a $300 million funding round. The proceeds will largely be used to build an Ethereum Treasury.

After the news was announced, the company’s shares rose 30%.

The round consists of convertible bonds purchased by an American investor whose name is not disclosed in the press release. At least 72.5% of the net proceeds goes directly to building an Ethereum reserve. The rest will be used as working capital and for growth-related initiatives.

The custody of the ETH is handled by BitGo. According to the press release, the ETH will also be deployed for staking to generate cash flow.

Greg Siokas, Cosmos Health's CEO, explains: “This financing is a strategic milestone for Cosmos Health and gives shareholders direct access to ETH, currently one of the most widely distributed digital assets worldwide.”

In addition to Bitcoin treasury companies like Strategy (formerly MicroStrategy), more Ethereum Treasury companies are emerging today. SharpLink Gaming (360,810 ETH) and BitMine (300,660 ETH) currently lead the list.

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