"(NASDAQ:BMNR) has solidified its position as a leading crypto stock by aggressively pursuing its BitMine Immersion TechnologiesEthereum Treasury Company strategy. Yesterday, BitMine announced it holds over 2 million Ethereum ( CRYPTO:ETH), acquired at an average price of $4,312 per token, with combined crypto and cash holdings totaling $9.2 billion. This move underscores its ambition to be a dominant player in the crypto treasury space."
"However, what truly ignited market excitement was (NASDAQ:OCTO), a company also pursuing treasury company status - not with BitMine's $20 million investment in Eightco HoldingsBitcoin ( CRYPTO:BTC) or Ethereum, but with Worldcoin (CRYPTO:WLD) tokens. The announcement sent OCTO's stock soaring 3,000% in a single day - peaking at over 5,000% gains at one point - rocketing from $1.45 to $45 per share. In premarket trading this morning, OCTO is up a more modest 11%, trading above $50."
"Eightco Holdings operates as a technology-driven company with a focus on blockchain and digital assets. Originally known for consumer products, Eightco has pivoted to capitalize on the growing crypto economy. Its core business now revolves around integrating blockchain solutions into supply chain management and financial services, aiming to streamline operations for businesses through decentralized technologies. The company's recent pivot to a crypto treasury strategy, specifically through Worldcoin, marks a bold departure from traditional assets, aligning it with cutting-edge innovations in identity and finance."
BitMine (NASDAQ:BMNR) holds over 2 million Ethereum acquired at an average price of $4,312 per token and reports combined crypto and cash holdings of $9.2 billion. BitMine is pursuing an aggressive Ethereum treasury company strategy to establish dominance in the crypto treasury space. OCTO (NASDAQ:OCTO) pursued treasury company status through Worldcoin token accumulation, producing an intraday stock surge near 3,000%, peaking above 5,000%, and moving from $1.45 to $45 per share, with premarket trading later showing an 11% rise above $50. Eightco Holdings pivoted from consumer products to blockchain and digital-asset integration, focusing on supply chain and financial services and investing in Worldcoin’s Orb biometric iris-scanning technology to create a privacy-preserving global digital identity for decentralized access to financial services.
Read at 24/7 Wall St.
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