BitMine Immersion Technologies has surpassed a notable milestone by amassing over 2 million Ethereum tokens in its corporate treasury, translating to more than $9 billion in value. In a strategic move to bolster its investment portfolio, the firm has announced a $20 million investment into Eightco, a company poised to integrate the Worldcoin cryptocurrency as its primary treasury asset.
In tandem with BitMine’s investment announcement, Eightco revealed its intentions to leverage proceeds from a forthcoming $250 million private placement to further accumulate Worldcoin. The transaction has been orchestrated by MOZAYYX, with notable participation from recognized investment firms including Kraken, GSR, and Coinfund.
Tom Lee, chairman of BitMine, articulated the company’s vision, stating, “BitMine wants to support and back innovative projects that create value for the Ethereum ecosystem. As an ERC-20 native token, World is aligned with Ethereum.” He also emphasized Worldcoin’s unique feature — the zero-knowledge Proof of Human credential — which he believes could play a crucial role in enhancing trust and safety among technology platforms and their users.
Worldcoin, co-founded by OpenAI CEO Sam Altman, operates as a layer 2 blockchain built on Ethereum. The cryptocurrency has recently witnessed a remarkable surge of nearly 50% in value within a 24-hour timeframe, coinciding with a nearly 5% rise in BitMine’s stock price. In a public statement, Eightco confirmed the issuance of 13,698,630 shares of common stock to BitMine at a price of $1.46 per share.
Meanwhile, the Ethereum landscape has seen significant activity. Data from SoSoValue has shown that spot Ethereum exchange-traded funds (ETFs) trading in the U.S. faced record outflows last week, with over $787.7 million exiting crypto-focused investment funds. The outflow trend observed in September starkly contrasts with previous months’ performance.
In other developments, ETHZilla has increased its crypto holdings to 102,246 Ethereum tokens, valued at approximately $443 million. Additionally, the company has executed a stock buyback of $5.5 million, reducing its outstanding shares by 1.3%.
Bit Digital recently disclosed in an SEC filing its current holding of 121,252 Ethereum tokens, valued at about $529 million, while also maintaining a 71.5% ownership stake in WhiteFiber, a public AI infrastructure company. The filing noted that Bit Digital plans to allocate a majority of its capital toward Ethereum accumulation and staking yield generation, positioning itself as a leading public entity in the Ethereum ecosystem while concurrently supporting its AI infrastructure business.
