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Investors flocked to the cryptocurrency stock that increased by 3000 percent in a month.
The BitMine company, which has stopped Bitcoin mining and started a crypto treasury strategy, has become the number one in South Korea in the last month. BitMine Immersion Technologies shares have been the most purchased foreign stock by South Korean retail investors since the beginning of July. During this time period, investors in the country invested a total of 259 million dollars in the company shares.
"They love risk"
In a report from Bloomberg, a U.S. media outlet, it was stated that BitMine's backing by the famous businessman Peter Thiel's Founders Fund may have created confidence and triggered purchases. The news article also mentioned that South Korean investors are known to embrace risk, and it was written that there is significant interest in cryptocurrencies in the country.
As a reminder, after announcing the Ether accumulation plan at the end of June, the stock price rose by more than 3%, but then it fell by more than 60%.
Tom Lee continues to make purchases
The firm, known for its ties to Wall Street and led by Tom Lee, who was recently appointed as chairman of the board, made a new announcement today, stating that it purchased over 300,000 ETH last week. The total amount of Ether held by the company has surpassed 1.15 million. The total value of these ETH has reached 4.9 billion dollars.
It is known that tokens listed on cryptocurrency exchanges in South Korea generally show sharp increases. The public's active and aggressive investment strategies also keep the crypto market very hot in the country.
Published: August 11, 2025 16:12Last Updated: August 11, 2025 16:17