Eightco (ORBS) Stock Offers a Back Door Into the OpenAI IPO – Here’s How

TLDR

• Eightco Holdings (ORBS) reported total treasury holdings of approximately $406 million as of June 10, 2026
• The portfolio includes a $90 million indirect stake in OpenAI via special purpose vehicles, equal to 22% of treasury assets
• Other holdings include $18M in Beast Industries, 283.5M Worldcoin tokens, 16,278 Ethereum, and ~$142M in cash and stablecoins
• The disclosure follows OpenAI’s confidential S-1 filing, signaling a potential IPO on the horizon
• ORBS stock is trading at $15.64, down 90% from its 52-week high of $161, and off 42% year-to-date

Eightco Holdings (ORBS) disclosed its full treasury breakdown on June 10, with total assets coming in at approximately $406 million. That’s down from the $437 million the company reported just a week prior, reflecting movement in its digital asset portfolio.

Eightco Holdings Inc., ORBS

The stock is trading at $15.64. That’s a steep fall — ORBS hit a 52-week high of $161, meaning it has dropped roughly 90% from that peak. Year-to-date, the stock is down 42%, and off 59% over the past six months.

The $406 million portfolio spans crypto, private equity, and cash. The biggest talking point is a $90 million indirect investment in OpenAI, held through special purpose vehicles. That represents about 22% of Eightco’s total treasury.

That statement landed with some weight. OpenAI announced on Sunday that it had confidentially submitted an S-1 filing — the first formal step toward a public offering.

What Else Is in the Portfolio

Beyond OpenAI, Eightco holds $18 million in Beast Industries, the digital content company with over 500 million social media followers combined across its platforms. That stake represents 4% of total treasury assets.

The company also holds a $1 million investment in Mythical Games, 283.45 million Worldcoin (WLD) tokens valued at $0.45 each, and 16,278 Ethereum. Rounding it out is roughly $142 million in cash and stablecoins.

The Worldcoin position is notable for one specific reason: 283 million tokens represents approximately 8.4% of the total circulating supply of WLD.

Bitmine Connection

Eightco doesn’t operate in isolation. Bitmine Immersion Technologies (BMNR) is among its institutional backers — and the relationship runs both ways. Bitmine separately disclosed an $88 million stake in Eightco as part of its own $9.6 billion crypto and cash holdings reported as of June 7.

Bitmine also holds 5,543,872 Ethereum tokens and a $180 million stake in Beast Industries, making the two companies closely intertwined across their portfolios.

Kevin O’Donnell serves as CEO of Eightco. The board also includes Tom Lee of Fundstrat and Brett Winton, chief futurist at ARK Invest.

The portfolio value dropped from $437M to $406M over the course of a week, a $31 million decline driven by crypto price fluctuations. Bitcoin and Ether both saw price drops recently, with Bitcoin at one point hitting its lowest level since October 2024.

As of June 10, ORBS holds 283.45 million Worldcoin tokens and 16,278 ETH as its two largest crypto positions by token count.

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