Ethereum reserves company BitMine has purchased ETH from the Ethereum Foundation through OTC, surpassing 4.59 million holdings. BitMine also invested $80 million into Eightco (ORBS), indirectly holding $50 million worth of OpenAI shares. Inspired by this news, ORBS stock surged over 34%, and BMNR stock rose nearly 14%.
BitMine buys 5,000 ETH from the Ethereum Foundation
Yesterday, BitMine disclosed its latest cryptocurrency holdings, as of March 15, including assets valued at $11.5 billion:
4,595,562 ETH
196 Bitcoin
$80 million in Eightco Holdings (ORBS)
$200 million in Beast Industries shares
$1.2 billion in unallocated cash
BitMine acquired 5,000 ETH from the Ethereum Foundation (EF) via OTC at a price of $2,042.96 each.
BitMine invested $80 million into Eightco, indirectly holding OpenAI equity
In cross-sector investment, BitMine participated in a new funding round of Eightco totaling up to $125 million, with an $80 million contribution from BitMine. The round attracted strong participation, including Ark Invest, focused on disruptive innovation, and Payward, the parent company of cryptocurrency exchange Kraken.
BitMine Chairman Tom Lee joined the ORBS board. Ark Invest’s Chief Futurist Brett Winton will serve as an advisor to the ORBS board.
Notably, ORBS acquired $50 million worth of OpenAI shares, making it the only publicly listed company allowing investors to directly invest in OpenAI. The highly anticipated IPO of OpenAI is scheduled for 2026. ORBS also invested $25 million in Beast Industries shares.
Yesterday, ORBS stock surged over 34% on this news.
Tom Lee: Cryptocurrency performs well after war outbreak
BitMine Chairman Tom Lee stated that since the Iran war outbreak, cryptocurrency prices have performed excellently, with Ethereum outperforming the S&P 500 index. He believes rising oil prices have triggered concerns over global economic slowdown. When investors worry about economic growth, they buy growth stocks, including the Big Seven, software stocks, and cryptocurrencies.
Yesterday, BitMine (BMNR) stock also rose 13.95%.
This article about BitMine’s $80 million investment in Eightco (ORBS), positioning in OpenAI equity, and AI new landscape was first published on Chain News ABMedia.
