Eightco receives $125M funding led by Bitmine, ARK Invest and Payward

Eightco Holdings Inc. (NASDAQ: ORBS) announced $125 million in new funding commitments from institutional investors. Bitmine (NYSE: BMNR) led the round with $75 million, while ARK Invest committed at least $25 million and Payward, parent company of crypto platform Kraken, committed $25 million.

The funding supports Eightco's expansion into investments in artificial intelligence, blockchain infrastructure, and digital consumer platforms. The company disclosed closing initial strategic investments of $50 million in OpenAI and $25 million in MrBeast and Beast Industries.

Tom Lee, Chairman of Bitmine, will join Eightco's Board of Directors. Brett Winton, Chief Futurist at ARK Invest, will serve as an advisor to the board. Dan Ives will step down 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 in a statement from the press release.

Cathie Wood, Founder and CEO of ARK Invest, stated: "ORBS is taking on a unique initiative at the intersection of AI, blockchain, and creator driven platforms."

Arjun Sethi, co-CEO of Kraken and Payward, noted that the company is "positioning itself at the intersection of three such compounding networks, AI, cryptographic infrastructure, and global digital distribution."

Eightco continues to hold positions in Worldcoin and Ethereum. The company's investor group includes Bitmine, ARK Invest, Payward, World Foundation, Coinfund, Discovery Capital Management, FalconX, Pantera, and GSR.

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