Eightco Holdings Inc. (NASDAQ:ORBS) announced it has secured $125 million in funding commitments and completed $75 million in strategic investments in OpenAI and Beast Industries, according to a company press release.
Bitmine (NYSE:BMNR) contributed $75 million to the financing round, while ARK Invest and Payward—the parent company of the cryptocurrency exchange Kraken—each committed $25 million. Eightco said the new capital will support its expansion into investments focused on artificial intelligence, blockchain infrastructure and digital consumer platforms.
As part of the strategy, Eightco invested $50 million in OpenAI and $25 million in MrBeast and Beast Industries. The company also holds positions in Worldcoin, co-founded by Sam Altman, and Ethereum.
Tom Lee, Chairman of Bitmine, will join Eightco’s Board of Directors, while Brett Winton, Chief Futurist at ARK Invest, will serve as an advisor to the board. Dan Ives will step down from his role as Chairman of Eightco.
“Bitmine invested in ORBS as we believe this company sits at the center of some of the most important future needs and developments for AI,” said Lee.
Cathie Wood, Founder, CEO and CIO of ARK Invest, stated, “ORBS is taking on a unique initiative at the intersection of AI, blockchain, and creator driven platforms.”
MrBeast’s YouTube channel has more than 450 million subscribers and generates over 5 billion views per month across its channels. Beast Industries operates consumer product and entertainment businesses, including the snack brand Feastables.
Eightco’s institutional and strategic investors include Bitmine, MOZAYYX, ARK Invest, Payward, World Foundation, Coinfund, Discovery Capital Management, FalconX, Pantera and GSR.
In other developments, Bitmine Immersion Technologies recently reported that its combined cryptocurrency and cash holdings reached $10.3 billion as of March 8. This total includes 4,534,563 Ethereum tokens valued at $1,965 each, 195 Bitcoin, a $200 million stake in Beast Industries and $14 million invested in Eightco Holdings, along with $1.2 billion in cash reserves.
Previously, the company reported holdings of $9.9 billion as of March 1, with slightly fewer Ethereum tokens and lower cash reserves. Its Ethereum holdings represent about 3.76% of the total Ethereum supply.
Separately, the broader cryptocurrency market has experienced notable volatility. Bitcoin recently surged, boosting shares of companies tied to cryptocurrency and blockchain activity. However, a subsequent sell-off pushed Bitcoin mining stocks lower, including Bitmine, which dropped 13%. The fluctuations highlight how movements in digital asset prices can significantly affect companies operating in the sector.