Eightco Holdings (ORBS) shares experienced volatility after announcing a $125 million funding round. The capital injection, spearheaded by Bitmine and ARK Invest, aims to drive investments in artificial intelligence, blockchain infrastructure, and digital consumer platforms.
The funding includes substantial commitments from Bitmine, ARK Invest, and Payward, the parent company of crypto exchange Kraken. Eightco also disclosed separate strategic investments in OpenAI and Beast Industries. Bitmine, a lead investor, has previously committed significant capital to Beast Industries.
Eightco's treasury strategy includes digital assets, holding Worldcoin tokens and Ethereum, alongside substantial cash reserves. Tom Lee of Bitmine and Brett Winton of ARK Invest will join Eightco's board and advisory roles, respectively.