BitMine’s 80% Crash Hasn’t Stopped Korean Retail Traders
South Korean retail investors continue to pile into BitMine Immersion Technologies even after the stock collapsed more than 80% from its July peak, turning the company into one of 2025’s clearest examples of speculative demand surviving a wipeout.
Despite the drawdown, BitMine ranks among the most heavily bought foreign stocks by South Korean investors this year, driven by its strategy of accumulating Ether and positioning itself as a listed proxy for ETH exposure. The company now holds roughly $12 billion worth of Ether, making it the largest publicly traded Ether treasury, while continuing to add to its balance sheet and stake ETH for yield.
For many Korean retail traders, the appeal lies in convexity rather than stability. Ether treasury companies amplify ETH’s upside during momentum phases but also magnify losses when sentiment turns—an asymmetric profile that continues to attract high-risk capital even after sharp declines.
BitMine’s resilience in retail flows underscores how balance-sheet narratives and crypto exposure continue to shape investor behavior heading into 2026.
