Eightco Holdings Inc. shares rise over 3630.0%, currently trading at $50.87

Eightco Holdings Inc. shares rise over 3630.0%, currently trading at $50.87

Eightco Holdings Inc. (NASDAQ: OCTO) experienced a dramatic surge in its stock price, with shares rising over 3630.0% and currently trading at $50.87, following the announcement of a significant private placement and strategic investment. The company unveiled a $250 million private placement and a $20 million investment from BitMine to support the world’s first Worldcoin treasury reserve [1].

The private placement included approximately 171 million shares priced at $1.46 each, with another 13.7 million shares issued to BitMine at the same price. The deal, led by MOZAYYX, is expected to close around September 11, subject to Nasdaq approval [1].

The capital raised will be primarily used to acquire Worldcoin as Eightco’s main treasury reserve asset. Thomas “Tom” Lee, who chairs BitMine, described World as a project that fits within BitMine’s broader mission to support Ethereum-native initiatives. He highlighted the platform’s Proof of Human feature as a potentially essential layer of trust for tech platforms interacting with billions of users [1].

Eightco Holdings Inc. also confirmed that Dan Ives, described as a "renowned technology and AI expert and Wall Street analyst," will serve as Chairman of the Board. The company’s strategy centers on Worldcoin’s “Proof of Human” technology, which leverages iris-scanning Orb devices to verify unique humans while generating zero-knowledge digital identities [2].

Worldcoin, co-founded by Sam Altman, has reportedly created nearly 16 million zero-knowledge Proof of Human accounts across more than 45 countries. Altman was quoted saying, "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" [2].

In connection with the offering, Eightco plans to change its Nasdaq ticker from “OCTO” to “ORBS,” also anticipated to take effect on September 11 [2].

References:
[1] https://cryptobriefing.com/worldcoin-treasury-strategy-eightco/
[2] https://investorshub.advfn.com/market-news/article/15859/eightco-shares-skyrocket-following-250m-private-placement-to-back-worldcoin-strategy