Eightco Holdings jumps 14% on Bitmine's $91M OpenAI-exposure stake

A $91 million position taken by Bitmine Immersion Technologies sent Eightco Holdings Inc. shares up 13.91% to $1.0250, as the Nasdaq-listed company gained fresh attention for being one of the few public equities with indirect exposure to OpenAI. The stake, disclosed in Bitmine's Sept. 7 corporate update, ranks among the strategic "moonshot" holdings inside the crypto treasury firm's $15.7 billion balance sheet.

"Bitmine's track record of consistent buying of crypto is unmatched by any public company in the world," Thomas "Tom" Lee, Chairman of Bitmine, said in the release. "Bitmine has bought ETH each and every week since the inception of the ETH Treasury Strategy on June 30, 2025."

The Eightco position sits alongside a $180 million stake in Beast Industries within a portfolio anchored by 5,929,198 ETH valued at $2,495 per token — roughly 4.9 percent of Ethereum's 122 million-token supply. Bitmine also holds 211 Bitcoin and $593 million in cash and marketable securities, and has staked about 5.1 million ETH, or 85 percent of its holdings, projecting $330 million in annualized staking revenue at a 2.61 percent seven-day yield.

The disclosure lands as crypto-linked equities lead the Russell 1000 in the third quarter, with four of the top 21 performers since June 30 tied to digital-asset exposure. Bitmine's own common stock has gained 99 percent quarter to date versus a 3 percent rise for the benchmark, and Ethereum has outperformed the S&P 500 by 5,430 basis points. Bitmine, added to the Russell 1000 on June 26, says it is 97 percent of the way to its goal of owning 5 percent of ETH supply, having bought tokens every week for 15 months.

Eightco's OpenAI connection gives ORBS a technology angle beyond crypto, though Bitmine's disclosure does not detail the underlying ownership structure, valuation method, or specific economic rights. With Bitmine approaching its 5 percent ETH target, Lee said in May the company would slow buying to avoid reaching the goal too early, leaving the pace of future treasury purchases — and any follow-on moves in its moonshot book — open as the sector's Q3 rally extends into the final weeks of the quarter.

This article is for informational purposes only and does not constitute investment advice.