Eightco Embraces Worldcoin As Treasury Asset With Backing From BitMine
News Summary
Eightco Holdings Inc. (OCTO) shares surged 1000% in premarket trading after the company announced raising $250 million through a private placement to adopt Worldcoin (WLD) as its primary treasury reserve asset. This strategic shift also included the appointment of well-known Wall Street analyst Dan Ives as chairman of the board. The private placement was priced at $1.46 per share, issuing approximately 171.2 million shares. BitMine Immersion Technologies (BMNR) disclosed a $20 million strategic investment into Eightco as its first “Moonshot” initiative within its Ethereum ecosystem expansion plan. BitMine recently reported its crypto and cash holdings exceed $9.21 billion, including over 2.069 million Ethereum (ETH), positioning it as the world's largest Ethereum treasury and second-largest crypto treasury globally, behind only MicroStrategy's Bitcoin holdings. BitMine and its Chairman Tom Lee emphasize Ethereum as one of the biggest macro trades for the next 10-15 years.
Background
BitMine Immersion Technologies is a significant player in the cryptocurrency space, holding over $9.21 billion in crypto and cash, including more than 2.069 million Ethereum (ETH). This positions it as the world's largest Ethereum treasury and the second-largest crypto treasury globally, trailing only MicroStrategy's Bitcoin holdings. The company has previously stated its long-term goal is to acquire 5% of all Ethereum. Worldcoin is a project based on zero-knowledge proof of humanity credentials, aiming to address identity verification in an increasingly agentic-AI world. Eightco's decision to adopt Worldcoin as its primary treasury asset, supported by BitMine's strategic investment, marks a convergence of corporate treasury strategies and Ethereum ecosystem expansion, highlighting crypto's deepening role in financial markets.
In-Depth AI Insights
What deep investment logic and potential risks are revealed by Eightco's strategy to adopt Worldcoin as its primary treasury asset? Eightco's move is an extremely high-risk, high-reward strategy, betting on Worldcoin's inherent volatility and the future adoption of its