TLDR
- Eightco Holdings Inc. (NASDAQ:OCTO) stock surged over 1000% in premarket trading after announcing a $250 million private placement to adopt Worldcoin (WLD) as its primary treasury reserve asset
- BitMine Immersion Technologies (AMEX:BMNR) invested $20 million strategically into Eightco as part of its “Moonshot” initiative in Ethereum ecosystem expansion
- Dan Ives, well-known Wall Street analyst, was appointed as chairman of Eightco’s board to signal the strategic shift
- The private placement was priced at $1.46 per share, issuing approximately 171.2 million shares to raise funds before expenses
- Eightco plans to change its Nasdaq trading symbol from “OCTO” to “ORBS” on September 11, 2025
Eightco Holdings Inc. shares exploded over 1000% in premarket trading Monday following the company’s announcement of a $250 million private placement. The funds will be used to adopt Worldcoin as the company’s primary treasury reserve asset.

The company priced its private placement at $1.46 per share. This deal involves issuing approximately 171.2 million shares to raise the full amount before expenses.
The transaction was led by MOZAYYX with participation from several institutional investors. World Foundation, Discovery Capital Management, and Brevan Howard joined the funding round.
BitMine Immersion Technologies made a $20 million strategic investment into Eightco. This investment represents the first “Moonshot” initiative in BitMine’s Ethereum ecosystem expansion plan.
Dan Ives joined Eightco as chairman of the board. The well-known Wall Street analyst brings his technology and AI expertise to guide the company’s new direction.
Corporate Strategy Shift
Eightco’s strategy centers on Worldcoin’s “Proof of Human” technology. The system uses iris-scanning Orb technology to verify unique humans while creating zero-knowledge digital identities.
BitMine described Eightco’s approach as “a first-of-its-kind strategy.” The company believes Worldcoin’s zero-knowledge proof of humanity credential could prove vital in an increasingly AI-driven world.
Worldcoin, co-founded by Sam Altman, has created nearly 16 million zero-knowledge Proof of Human accounts. These accounts span over 45 countries worldwide.
Sam Altman commented on the potential impact of their mission. He stated that if successful, “World might become the largest network of real people online, fundamentally changing how we interact and transact throughout the Internet.”
BitMine’s Backing and Holdings
BitMine recently announced its crypto plus cash holdings exceed $9.21 billion. The company holds more than 2.069 million Ethereum tokens.
This positions BitMine as the largest Ethereum treasury in the world. It ranks as the second-largest crypto treasury globally, behind only MicroStrategy’s Bitcoin holdings.
The company is backed by prominent investors including ARK’s Cathie Wood and Founders Fund. Bill Miller III, Pantera, Kraken, DCG, and Galaxy Digital also support the venture.
BitMine has set a long-term goal of acquiring 5% of all Ethereum. Thomas “Tom” Lee of Fundstrat, who serves as BitMine’s chairman, sees this as a major opportunity.
Lee described Ethereum as “one of the biggest macro trades over the next 10β15 years.” He cited the convergence of Wall Street and AI on blockchain as the driving force.
The offering is expected to close around September 11, 2025. This timeline is subject to customary closing conditions including NASDAQ authorization.
Eightco plans to change its Nasdaq trading symbol from “OCTO” to “ORBS” on September 11. At last check Monday, OCTO shares were trading higher by 1046.17% to $16.62 in premarket trading.