- Eightco shares rose over 15% after securing a $125 million fundraise from BitMine and Ark Invest.
- The company plans to expand into AI, blockchain, and creator-driven platforms, having invested in OpenAI and Beast Industries.
- Eightco previously established a $250 million treasury focused on Worldcoin and maintains positions in Ethereum-based assets.
Shares in publicly traded blockchain and Artificial Intelligence firm Eightco surged more than 15% Thursday following news that the company raised $125 million to fuel its expansion. The funding came from BitMine Immersion Technologies and Cathie Wood’s Ark Invest, with BitMine Chairman Tom Lee joining the board and Ark’s Chief Futurist Brett Winton becoming an advisor. Consequently, Eightco Chairman Dan Ives will step down as part of this transition.
Lee stated, “Bitmine invested in ORBS as we believe this company sits at the center of some of the most important future needs and developments for AI.” His firm had previously invested $20 million in Eightco as part of its “moonshot” strategy. Meanwhile, Eightco also closed a $50 million investment into OpenAI and a $25 million investment in Beast Industries, the company of YouTube star MrBeast.
Eightco previously raised $250 million to create a digital asset treasury centered on Worldcoin, the proof-of-personhood project co-founded by OpenAI CEO Sam Altman. The firm continues to hold positions in Worldcoin and Ethereum, citing a long-term belief in the ERC-20 protocol. Wood added, “ORBS is taking on a unique initiative at the intersection of AI, blockchain, and creator-driven platforms. At ARK Invest, we focus on technologies that have the potential to transform the global economy.” Ark maintains a significant position of nearly $169 million in BitMine stock across its ETFs.
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