Intchains Group acquires additional ETH, bolsters Web3 reserves

Intchains Group (NASDAQ:ICG), a leading altcoin development company, announced today that it has further strengthened its cryptocurrency holdings by acquiring approximately 915.3 ETH between September 30, 2024, and November 28, 2024.

This acquisition was made at an average price of approximately RMB22,626 (US$3,123) per ETH, totaling approximately RMB20.7 million (US$2.9 million).

With this latest purchase, Intchains Group now holds an aggregate of approximately 5,066.6 ETH, acquired at an average price of approximately RMB21,117 (US$2,914) per ETH.

This significant investment underscores the company's commitment to its Web3 strategy and its belief in the long-term potential of Ethereum.

Intchains Group plans to utilize its ETH holdings to support its ongoing Web3 initiatives, including the development of innovative applications and platforms.

By strategically investing in ETH, the company aims to position itself as a key player in the evolving Web3 ecosystem.