Eightco Holdings (ORBS) shares swung sharply after the company announced a $125 million funding round led by Bitmine and ARK Invest. The stock surged as much as 35% before giving back most of those gains, trading about 6% higher by Thursday morning.
The funding includes a $75 million commitment from Bitmine, at least $25 million from ARK Invest, and $25 million from Payward, the parent company of crypto exchange Kraken. Eightco said the capital will support investments in artificial intelligence, blockchain infrastructure, and digital consumer platforms.
The company also disclosed $75 million in initial strategic investments, including $50 million in OpenAI and $25 million in Beast Industries. Bitmine, which led the funding round, has also invested in Beast Industries, committing about $200 million in January.
Eightco maintains exposure to digital assets as part of its treasury strategy, holding roughly 277 million Worldcoin tokens and about 11,000 Ethereum, alongside $82 million in cash reserves.
As part of the funding round, Bitmine chairman Tom Lee will join Eightco’s board of directors, while Brett Winton, chief futurist at ARK Invest, will serve as an advisor to the company’s board.
Source: https://cryptobriefing.com/eightco-holdings-funding-round-impact-2/
