Eightco Bets Treasury on Worldcoin, Stock Soars 5,000% After BitMine Backing

Eightco Holdings stunned markets this week after announcing it will reorient its corporate treasury around Worldcoin, the biometric identity token project co-founded by Sam Altman. The move triggered a meteoric surge in its Nasdaq-listed shares, which skyrocketed from $1.43 to an intraday high of $83.12 within three days — briefly marking a gain of more than 5,000%.

The company disclosed that it secured $250 million through a private placement to acquire Worldcoin ($WLD) tokens, making it the first publicly traded firm to prioritize the controversial project as its reserve backbone. On the same day, $WLD rallied 49% to $1.54, its highest level in seven months.

Eightco also revealed that it will rebrand its Nasdaq ticker from OCTO to ORBS on September 11, 2025, a symbolic shift toward identity-driven blockchain infrastructure and away from its e-commerce origins.

Adding fuel to the rally, crypto mining heavyweight BitMine invested $20 million into Eightco, describing the move as its first major bet outside of Ethereum. BitMine currently holds over two million $ETH — worth nearly $9 billion — but signaled that digital identity infrastructure could serve as a frontier for diversification.

While Worldcoin will anchor Eightco’s reserves, the firm left room for Ethereum and cash as supplementary holdings, framing $ETH as a “sibling network” that could complement, rather than compete with, World.

Worldcoin itself has been on an expansion push, with its Orb devices — used to verify human identity through biometrics — now deployed across six U.S. cities. The project, rebranded as “World” in 2024, has a total supply of 10 billion tokens and continues to attract scrutiny over privacy and adoption.

Eightco’s pivot reflects a growing trend of corporations experimenting with tokens tied to identity infrastructure as potential institutional-grade assets. With BitMine’s backing and a historic stock rally, investors are now watching closely whether Worldcoin can evolve from experimental project to a staple in corporate treasuries.