Largest ethereum treasury, BitMine, invests $20 million into the first worldcoin treasury firm

As BitMine Immersion Technologies passes 2 million ethereum tokens in its corporate treasury worth over $9 billion, the firm announced a $20 million strategic investment into Eightco, which is moving to adopt the worldcoin cryptocurrency as its primary treasury asset. 

In addition to BitMine’s investment, Eightco announced it plans to use proceeds from a $250 million private placement to stockpile worldcoin. The transaction was led by investment firm MOZAYYX and had participation from Kraken, GSR, and Coinfund. 

"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,” BitMine chairman Tom Lee said in a statement. “World's unique zero-knowledge Proof of Human credential could be essential to future trust and safety between technology platforms and the billions of human users.”

Worldcoin, cofounded by OpenAI CEO Sam Altman, is a layer 2 blockchain built on ethereum. Its native cryptocurrency has jumped nearly 50% in the last 24 hours, while BitMine stock has moved up almost 5%. 

According to Eightco’s public statement, “13,698,630 shares of common stock were issued to BitMine at $1.46.”

In other ethereum news: 

• Spot ethereum ETFs trading in the US saw record outflows last week, with more than $787.7 million leaving the crypto-focused investment funds, data from SoSoValue shows. September’s outflows so far are a stark reversal from the previous months. 

• ETHZilla brought its crypto holdings to 102,246 ethereum tokens worth around $443 million. ETHZilla has also repurchased $5.5 million worth of its stocks, reducing its shares outstanding by 1.3%, a press release stated. 

• Bit Digital, in a Monday SEC filing, said it holds 121,252 ethereum tokens currently valued at $529 million and has a 71.5% ownership in WhiteFiber, a public AI infrastructure company. “The company intends to allocate the majority of its capital to ETH accumulation and staking yield generation, positioning itself as a leading public ETH vehicle while also holding a majority ownership of an AI infrastructure business,” according to the filing.