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Eightco Holdings Inc. (OCTO) announced a $250 million private placement alongside a $20 million strategic investment from BitMine Immersion Technologies (NYSE American: BMNR) to implement what the company describes as the world’s first Worldcoin treasury strategy.
The private placement involves the sale of approximately 171.2 million shares at $1.46 per share. BitMine purchased an additional 13.7 million shares at the same price. The transaction was led by MOZAYYX with participation from institutional investors including World Foundation, Discovery Capital Management, Pantera, and Brevan Howard.
The offering is expected to close on September 11, 2025, subject to customary conditions including NASDAQ authorization. Eightco plans to use the proceeds to acquire Worldcoin (WLD) tokens for its treasury operations, making WLD its primary reserve asset while maintaining cash and Ethereum as secondary reserves.
In connection with the transaction, the company intends to change its NASDAQ trading symbol to "ORBS" effective September 11, 2025. Dan Ives, a technology analyst, has been appointed Chairman of the Board.
Worldcoin utilizes iris-scanning technology called "Orbs" to create zero-knowledge proof of human credentials. The World network has created nearly 16 million such accounts across more than 45 countries, according to the press release.
"If we succeed on our mission, World might become the largest network of real people online, fundamentally changing how we interact and transact throughout the Internet," said Sam Altman, who co-founded World with Alex Blania.
BitMine’s investment represents part of what the company calls its "Moonshot" strategy to support projects that strengthen the Ethereum ecosystem. BitMine operates Bitcoin mining facilities in Trinidad and Texas.
RF Lafferty & Co. served as exclusive placement agent for the private placement, while Cantor Fitzgerald advised the lead investor and Moelis & Company advised BitMine.