South Korean retail investors have maintained interest in BitMine Immersion Technologies, continuing to buy shares even after a collapse of over 80% in the stock price. In 2025, local investors collectively made net investments of approximately $1.4 billion in the company, making BitMine the second most net-purchased foreign stock among South Korean retail investors after Alphabet. The company has undergone a radical strategic shift—from Bitcoin mining to accumulating Ethereum—which has driven both rapid stock gains and subsequent sharp volatility.
Why South Korean Retail Traders Keep Buying BitMine
Investor interest in South Korea is fueled by the effect of "accelerated" access to Ethereum via a publicly traded stock: BitMine positions itself as a public company focused on accumulating ETH, attracting those seeking Ethereum exposure through equities. This dynamic has placed the company among the most purchased foreign stocks by South Korean retail investors, trailing only Alphabet in net purchases; this is supported by data on net purchase volumes and market buying activity of South Korean investors. Moreover, for many retail players, the appeal lies not in stability but in the potential for rapid stock price surges when positive momentum occurs.
The Rise and Fall of BitMine’s Stock
The turning point came after the announcement of the shift from Bitcoin mining to building an Ethereum treasury: this news triggered a surge in demand and a stock price increase of more than 3,000% by early July. However, following the peak phase, a correction ensued—the shares dropped roughly 82% from the July 3 peak and overall fell more than 80% from their high, illustrating an example of extreme speculative volatility.
Key figures associated with the company also played an important role: BitMine is backed by well-known investors, and its management is linked to public cryptocurrency market forecasts, which further heightened attention to the stock and capital inflows.
Investments in BitMine-Based ETFs
Some buyers sought leveraged exposure through double-return products: approximately $566 million was directed into T-Rex’s 2X Long BitMine Daily Target ETF to obtain twice the daily exposure to the stock. This leveraged ETF, however, lost about 86% from its peak in September, highlighting the risks of such instruments amid high volatility of the underlying asset.
BitMine’s Appeal to Investors
BitMine’s key competitive advantage is its large Ethereum balance: the company holds about $12 billion worth of ETH, making it a significant public Ethereum accumulator. At the same time, Ethereum itself declined roughly 11% in 2025, and the combination of ETH’s volatility with stock market movements creates an "amplified" risk-return profile for investors.
For some retail traders, BitMine’s structure acts as a leveraged proxy for Ethereum: momentum growth leads to rapid stock price jumps, while capital flow shifts cause equally sharp declines, explaining both the attraction and concerns surrounding this stock. Details on the Ethereum accumulation strategy can be found in materials about how the company built its treasury accumulated 4.066 million ETH.
Why This Matters
If you are a miner in Russia with a small or medium-sized rig setup, direct impact from South Korean retail investor purchases on your mining output may be limited; however, this news is important for understanding liquidity dynamics around Ethereum and public ETH accumulators. The intensified buying and subsequent selling create sharp price impulses that affect Ethereum’s price and the behavior of related stocks and products.
What to Do?
- Review your exposure to ETH and related public stocks: if you hold savings in the token or accumulator stocks, assess your acceptable drawdown and revisit your risk management.
- Avoid leveraged ETFs and complex margin products unless you are prepared for rapid losses; such instruments have shown significant drawdowns during capital flow reversals.
- For miners: focus on operational efficiency and cost accounting rather than speculative attempts to profit from volatility in public ETH accumulators.
- Stay updated on news about major players and BitMine’s strategy changes, as large purchases or sales of their treasury can amplify short-term market fluctuations.