- South Korean retail investors continued heavy net buying of BitMine Immersion Technologies Inc. despite a more than 80% fall from its July peak.
- Domestic flows into the U.S.-listed stock totaled about $1.4 billion in 2025, ranking it behind only Alphabet Inc. in net buying, per Korea Securities Depository data.
- Retail traders also bought leveraged exposure via the T-Rex 2X Long BitMine Daily Target ETF, which drew roughly $566 million but has tumbled about 86% from its September high.
- BitMine holds roughly $12 billion of ether and positioned itself as a public vehicle for accumulating ETH after exiting Bitcoin mining.
BitMine Immersion Technologies Inc. became a top foreign buy for South Korean retail traders in 2025 after it shifted from bitcoin mining to building an ether treasury. Local investors added about $1.4 billion in net purchases this year and kept buying as the stock fell roughly 82% from its July 3 high, according to Korea Securities Depository data.
The shares surged earlier in the year after the strategic pivot, rallying over 3,000% into early July before reversing. The company is backed by billionaire Peter Thiel and led by Wall Street forecaster Tom Lee.
Traders seeking larger moves bought the T-Rex 2X Long BitMine Daily Target ETF, a product that aims for twice the stock’s daily performance. That ETF attracted about $566 million but has fallen roughly 86% from its September peak.
BitMine holds about $12 billion worth of ether, making it a large public holder of ETH, according to data compiled by strategicethreserve.xyz. Ether itself was down about 11% for 2025 after earlier listed accumulation helped push the token toward a record near $5,000 in August.
Definition — Ether (ETH): the native cryptocurrency of the Ethereum blockchain.
Definition — Leveraged ETF: an exchange-traded fund designed to deliver a multiple of a benchmark’s daily return.
Definition — Convexity (in this context): a profile that can produce amplified gains during momentum phases and amplified losses when flows reverse.
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