By Shares of Eightco Holdings (NASDAQ: OCTO) soared more than 1,338% at opening trade on Monday after the company unveiled a $270 million financing and announced it would adopt Worldcoin (WLD) as its primary treasury reserve asset.
The move, which includes a $250 million private placement and a $20 million strategic investment from BitMine Immersion Technologies (NYSE: BMNR), positions the firm at the intersection of cryptocurrency, identity verification, and artificial intelligence.
Eightco said it priced 171.2 million shares at $1.46 per share for proceeds of about $250 million.
The company also issued 13.7 million shares to BitMine at the same price, generating $20 million.
Worldcoin at the center of treasury plan
The company said it will implement what it calls the “world’s first Worldcoin treasury strategy,” using the proceeds to acquire WLD tokens.
Worldcoin is an ERC-20 token built on Ethereum and designed to verify identity through its iris-based “Orb” hardware system, offering what its creators call a zero-knowledge proof of humanity.
Alongside the financing, Eightco will change its Nasdaq ticker symbol to “ORBS” beginning Thursday, reflecting its integration with Worldcoin’s Orb verification system.
The $270 million placement is scheduled to close on September 11, 2025.
Strategic support from BitMine
BitMine described its $20 million contribution as part of its “Moonshot” initiative, aimed at backing projects that expand the Ethereum ecosystem.
“BitMine wants to support and back innovative projects that create value for the Ethereum ecosystem,” said Tom Lee, chairman of BitMine and head of research at Fundstrat.
He emphasized that Worldcoin’s proof-of-humanity credentials could prove essential for trust and safety between technology platforms and billions of human users.
BitMine has previously signaled that it intends to allocate around 1% of its balance sheet to investments in projects that bolster Ethereum’s growth.
Balancing risk and potential
Eightco’s decision to adopt Worldcoin as its reserve asset has been described by analysts as both speculative and innovative.
Advocates argue that the strategy could yield significant upside if Worldcoin’s identity-verification system gains traction amid rising demand for human authentication in AI-driven platforms.
Skeptics, however, point to the regulatory uncertainty surrounding biometric data and the risks of tying corporate reserves to a volatile token still in its early adoption phase.
“The integration of WLD into Eightco’s treasury introduces both speculative and strategic value,” analysts at AInvest noted.
“For investors, the key question is whether this pivot reflects genuine innovation in decentralized trust—or a speculative gamble.”
Market reaction and outlook
Eightco’s shares surged on news of the deal, with the planned rebrand to “ORBS” seen as a bid to attract investors interested in digital identity, blockchain, and artificial intelligence.
The involvement of Dan Ives, a well-known fintech and digital asset strategist, as chairman adds weight to the move.
Still, the strategy faces hurdles. Regulatory agencies have yet to issue clear guidance on biometric-based tokens like Worldcoin, while ethical debates over privacy and consent continue.
As the September 11 closing date approaches, investors will be watching closely to see if Eightco’s foray reshapes corporate treasury practices—or becomes a cautionary tale in the push toward decentralized identity systems.
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