Ethereum News Today:

Eightco Holdings Inc. (NASDAQ: OCTO) has raised $270 million through a combination of a $250 million private placement and a $20 million strategic investment from BitMine (NYSE AMERICAN: BMNR) to launch the first-ever Worldcoin (WLD) treasury strategy. The funding, led by MOZAYYX, involved participation from high-profile institutional investors such as World Foundation, Discovery Capital Management, GAMA, FalconX, Kraken, Pantera, GSR, Coinfund, Occam Crest, Diametric, and Brevan Howard. Proceeds will be used to acquire WLD as the company’s primary treasury reserve asset, with cash and Ethereum (ETH) serving as secondary reserves [1].

The transaction involves the issuance of approximately 171.2 million shares of common stock at $1.46 per share. BitMine also purchased 13.7 million shares at the same price, injecting an additional $20 million into the company. This strategic move signals a significant shift in Eightco’s financial strategy, aligning its treasury with the tokenized identity verification system of Worldcoin. The company also announced it will change its ticker symbol to “ORBS” starting on September 11, 2025 [1].

Worldcoin’s core technology is the zero-knowledge (ZK) Proof of Human (PoH), a cryptographic method that verifies a person’s humanity without storing biometric data on the blockchain. This process is facilitated by proprietary iris-scanning hardware known as the Orb, which has already generated nearly 16 million proof-of-human accounts across 45 countries. The technology is designed to address the growing challenge of verifying human identity in an increasingly automated and AI-driven digital landscape [1].

Notable figures in the tech and investment sectors have lent their support to the initiative. Dan Ives, a prominent technology and AI expert, has been appointed as Chairman of the Board and praised Worldcoin as a cornerstone in the “AI-driven Fourth Industrial Revolution.” Ives emphasized that Worldcoin could redefine how trust and authentication operate in the digital economy, especially as AI and agentic systems become more prevalent [1].

BitMine’s $20 million investment is part of its broader “Moonshot” strategy to invest in projects that strengthen the Ethereum ecosystem. The company’s Chairman, Thomas (Tom) Lee, highlighted the strategic importance of Worldcoin as an ERC-20 token aligned with Ethereum, noting that its zero-knowledge proof system could enhance trust and safety between platforms and users. Lee also reiterated that Ethereum is a long-term macro investment, particularly in the context of AI and blockchain convergence [2].

The investment represents a speculative bet on the potential of Worldcoin’s technology to become a standard for human verification in a future dominated by AI and synthetic identities. While the move exposes Eightco to regulatory uncertainties and market volatility, it also positions the company at the forefront of digital identity innovation. Institutional backing from firms like Pantera and Kraken suggests that there is a growing belief in the viability and scalability of Worldcoin’s approach [3].

Worldcoin’s technology is already being explored for broader adoption. Reddit, for instance, is reportedly in discussions to integrate World ID, the biometric identity system underpinning Worldcoin, to verify users without compromising privacy. This development could significantly expand the token’s use case and visibility, potentially influencing the broader social media landscape [4].

Source:

[1] Eightco Holding Inc. (OCTO) (https://www.prnewswire.com/news-releases/eightco-holdings-inc-octo-announces-250-million-private-placement-with-an-additional-20-million-strategic-investment-from-bitmine-bmnr-to-initiate-worlds-first-worldcoin-wld-treasury-strategy-302549012.html)

[2] BitMine Immersion Technologies, Inc. (https://www.prnewswire.com/news-releases/bitmine-immersion-bmnr-eth-holdings-exceed-2-069-million-reigning-as-the-1-eth-treasury-in-the-world-2nd-largest-crypto-treasury-globally-302548699.html)

[3] Eightco Holdings Inc. (OCTO) (https://www.stocktitan.net/news/BMNR/eightco-holdings-inc-octo-announces-250-million-private-placement-b9e0xic5395u.html)

[4] Cryptodnes (https://cryptodnes.bg/en/reddit-might-embrace-worldcoins-iris-scan-to-verify-users-without-doxxing/)