Eightco Holdings shares float after $125M funding round led by Bitmine and ARK Invest

Eightco Holdings ( ORBS ) shares traded sharply higher after the company announced a $125 million round of funding led by Bitmine and ARK Invest. The stock rose as much as 35% before giving up most of its gains, up 6% through Thursday morning.

The funding includes a $75 million commitment from Bitmine, at least $25 million from ARK Invest and $25 million from Payward, the parent company of crypto exchange Kraken. Eightco said the capital will support investments in artificial intelligence, blockchain infrastructure and digital consumer platforms.

The company announced $75 million in initial strategic investments, including $50 million in OpenAI and $25 million in Beast Industries. Bitcoin, which led the funding, also invested in Beast Industries, which spent about $200 million in January.

Eightco maintains exposure to digital assets as part of its treasury strategy, with around 277 million Worldcoin tokens and around 11,000 Ethereum, with $82 million in cash reserves.

As part of the round of support, Bitmine chairman Tom Lee will join Eightco's board of directors, while Brett Winton, chief executive of ARK Investments, will serve as an advisor to the company's board.