Eightco Shares Soar on $125M Institutional Raise
Eightco Holdings (ORBS) shares jumped 11.67% on Thursday to $0.90 after securing $125 million in institutional commitments from major players in the crypto space.
The funding round was led by Bitmine, a crypto treasury firm, which invested $75 million into Eightco. ARK Invest and Kraken's parent company Payward each contributed $25 million to the deal.
In addition to the capital injection, Eightco announced strategic investments in OpenAI for $50 million and Beast Industries, owned by YouTuber MrBeast, for $25 million. The moves position ORBS as a hub for key frontier AI technologies and content creation.
The company's chairman, Dan Ives, stepped down from his position following the announcement, while Tom Lee, chairman of Bitmine, will join Eightco's board as part of the deal.