Cosmos Health increases ethereum holdings to $1.8 million

CHICAGO - Cosmos Health Inc. (NASDAQ:COSM) has purchased an additional $300,000 worth of Ethereum (ETH), bringing its total investment in the cryptocurrency to $1.8 million, the company announced Monday. The healthcare group, currently valued at $33 million, has seen its stock surge nearly 193% over the past six months, according to InvestingPro data.

The latest acquisition was made under the company’s previously announced $300 million digital assets facility, which forms part of its strategy to diversify its investment portfolio.

"We have continued to increase our Ethereum holdings following last week’s purchase, bringing our total investment in ETH to $1.8 million," said Greg Siokas, CEO of Cosmos Health. "We remain committed to accelerating our acquisition program under our $300 million financing facility."

Cosmos Health, a diversified healthcare group, has been expanding its digital asset investments as part of its broader financial strategy. The company operates across multiple healthcare segments, including pharmaceutical manufacturing, distribution, and telehealth services.

The Nevada-incorporated company, founded in 2009, maintains operations in Greece and the UK, with distribution centers in Thessaloniki, Athens, and Harlow.

This announcement follows the company’s previous cryptocurrency investments made under the same digital assets facility. The information is based on a company press release statement.

In other recent news, Cosmos Health Inc. has made a significant move by purchasing an additional $500,000 worth of Ethereum, increasing its total investment in the cryptocurrency to $1.5 million. This acquisition is part of the company’s broader strategy to diversify its balance sheet and integrate blockchain technology within its operations. In another development, Cosmos Health announced the appointment of Theodoros C. Karkantzos to its board of directors. Mr. Karkantzos, who brings over 15 years of experience in investment and business development, will serve on the Nominating and Corporate Governance Committee.

Additionally, Cosmos Health has expanded its Sky Premium Life brand into Kuwait through an exclusive distribution agreement with Diyar United. This agreement grants Diyar United the rights to market and distribute Sky Premium Life’s nutraceuticals in the region. At the recent annual meeting, shareholders approved an increase in the company’s authorized shares, which will allow for 1.5 billion shares of common stock and 300 million shares of preferred stock. Furthermore, Cosmos Health released its CEO’s annual letter to shareholders, although no new financial results or operational updates were provided in the letter.

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