Eightco Holdings Inc. (NASDAQ:OCTO) has taken Wall Street by storm, with its shares soaring over 1000% in premarket trading after announcing a bold move — adopting Worldcoin (WLD) as its primary treasury reserve asset.
The company raised a massive $250 million through a private placement priced at $1.46 per share, issuing nearly 171.2 million shares.
A Big Leadership Move
Eightco also made headlines by appointing renowned Wall Street analyst Dan Ives as the new Chairman of the Board, signaling a strategic pivot toward crypto-focused growth.
BitMine’s Backing: A Power Play
Backing this bold move, BitMine Immersion Technologies (AMEX:BMNR) invested $20 million into Eightco. This marks the first “Moonshot” initiative under BitMine’s Ethereum ecosystem expansion.
Currently, BitMine holds $9.21 billion in crypto and cash, including 2.069 million Ethereum (ETH). This makes it the largest Ethereum treasury worldwide and second only to MicroStrategy’s Bitcoin stash in global crypto holdings.
Why Worldcoin?
According to BitMine, Eightco’s adoption of Worldcoin is a first-of-its-kind corporate treasury strategy. The project’s zero-knowledge proof of humanity credential could play a vital role in an increasingly AI-driven world.
Ethereum’s Big Future
Thomas “Tom” Lee of Fundstrat and Chairman of BitMine sees Ethereum as one of the biggest macro trades of the next 10–15 years, citing the convergence of Wall Street, blockchain, and AI.
Market Impact
- OCTO (Eightco) stock: Up 1046% to $16.62 (premarket).
- BMNR (BitMine): Up 0.90%.
This historic move highlights how crypto assets are moving into corporate balance sheets, further deepening their role in global financial markets.
FAQs
Why did Eightco adopt Worldcoin as its treasury asset?
Eightco sees Worldcoin’s identity verification and AI-proof credentials as a unique long-term value addition for corporate strategy.
How much money did Eightco raise?
Eightco raised $250 million via private placement.
Who invested in Eightco?
BitMine Immersion Technologies invested $20 million as part of its Ethereum expansion plan.
How big is BitMine’s Ethereum holding?
BitMine holds over 2.069 million ETH, making it the largest Ethereum treasury in the world.
How much did Eightco’s shares rise?
Eightco’s shares surged over 1000% in premarket trading after the announcement.
