Ethereum News Today: Moonshot Bet: BitMine's $214M Worldcoin Stake Reflects Institutional Optimism

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Wednesday, Oct 29, 2025 2:18 am ET1min read
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- BitMine boosts Eightco stake 10-fold to $214M, signaling institutional confidence in Worldcoin's iris-scanning tech.

- Firm expands ETH holdings to 2.15M tokens ($9.7B), becoming second-largest public crypto holder after a rival's $73B bitcoin stash.

- Sharplink Gaming's stock buyback highlights competitive pressures as firms justify valuations amid crypto market volatility.

- Analysts watch if BitMine's "moonshot" bet on Worldcoin drives structural growth despite regulatory and rate risks.

Worldcoin (WLD) is drawing renewed attention as BitMine, a major digital asset treasury firm, has significantly increased its stake in the cryptocurrency's affiliated entity, Eightco. The company's equity position in the Worldcoin-linked firm now stands at $214 million, a 10-fold jump from its initial $20 million investment, according to a September 15 press release and a

CoinDesk report
. This move underscores growing institutional confidence in the iris-scanning project, which has positioned itself as a unique player in the cryptocurrency space.

BitMine, which is led by Fundstrat Capital's Tom Lee and manages a total portfolio of $10.77 billion in crypto, cash, and equity, has also expanded its ether (ETH) holdings to 2.15 million tokens, valued at $9.7 billion at current prices, as noted in the CoinDesk report. The firm's aggressive accumulation of ETH, combined with its high-conviction bet on

Worldcoin
, highlights a strategic pivot toward Ethereum-centric assets. This strategy has positioned BitMine as the second-largest public corporate holder of a cryptocurrency, trailing only a rival firm's $73 billion
bitcoin
stash.

The surge in interest for Worldcoin comes amid broader market dynamics affecting crypto treasury firms. Rival Ethereum-focused company Sharplink Gaming recently announced a stock buyback to address pressure from investors trading below net asset value (NAV), signaling a competitive landscape where firms must justify their valuations, the CoinDesk report added. BitMine's own equity stake in Eightco, described as a "moonshot" in its investment playbook, reflects a willingness to take bold bets in the crypto sector.

Analysts are closely watching whether this institutional backing will translate into a structural breakout for Worldcoin. While the press release does not specify a price target, the $214 million valuation of BitMine's Eightco stake suggests a strong conviction in the project's long-term potential. The firm's decision to classify its Worldcoin investment as a "moonshot" aligns with broader industry optimism about the token's utility in decentralized identity solutions and its growing adoption by developers.

The broader crypto market has also seen increased activity in treasury plays, with BitMine's $569 million in unencumbered cash reserves indicating readiness to capitalize on further opportunities, according to the CoinDesk report. However, the sector remains volatile, with rising interest rates and regulatory uncertainties posing risks to firms with large financing needs. For Worldcoin, the challenge will be maintaining momentum as it scales its operations and integrates with mainstream applications.