BitMine has become the most popular overseas stock among retail investors in South Korea, who are still attracted to such high-risk, high-return opportunities in the crypto space. According to data from the Korea Securities Depository, since early July, South Korean retail investors have net purchased $259 million worth of BitMine stock, making it the overseas security with the highest purchase amount during this period. This frenzy highlights the ongoing speculative enthusiasm in the South Korean retail market. About one-third of the South Korean population—approximately 18 million people—are active in the digital asset market, with interests ranging from leveraged crypto ETFs to newly listed stablecoin issuer Circle. BitMine aims to replicate the business model of Michael Saylor's strategy, but focuses on Ethereum rather than Bitcoin. The company currently holds $3.6 billion worth of Ethereum, ranking first in the world. However, volatility remains a hallmark of such stocks. After announcing plans to accumulate Ethereum in large quantities, BitMine's stock price surged over 3,000% to a peak in July, but then plummeted by 62%.