Core Insights - BitMine Immersion Technologies has experienced an 80% decline in stock price, yet it remains a top choice for South Korean retail investors in 2025, ranking second only to Alphabet in overseas stock purchases [1][2][3] Group 1: Stock Performance - BitMine's shares have plummeted approximately 82% from their peak in July, erasing most of the gains from an earlier rally [2] - Despite the significant drop, BitMine and USDC issuer Circle are still among the top 10 overseas securities purchased by South Korean investors this year [3] Group 2: Investment Behavior - South Korean retail investors have invested a net $1.4 billion in BitMine shares in 2025, including $566 million into a 2x leveraged ETF linked to the stock [6] - The behavior of Korean investors is described as "hoarding logic," where faith-driven capital flows do not necessarily align with price movements [7][8] Group 3: Company Strategy - BitMine has undergone a radical transformation from a Bitcoin miner to an Ether treasury, mirroring strategies popularized by other crypto investors [4] - The company's stock surged over 3,000% to a peak in July as retail traders sought exposure to Ethereum accumulation [5]